!NEW! GM General Motors and PSA Peugeot Citroën Confirm Key Steps in Global Strategic Alliance

• Four common vehicle platform development projects
• Next steps in joint purchasing organization
• Synergy target of $2 billion annually confirmed

GM General Motors and PSA Peugeot Citroën today confirmed important steps toward the execution of their Global Strategic Alliance. Consistent with terms of the Master Agreement signed Feb. 29, the Alliance partners have selected four vehicle projects and confirmed the next steps in joint purchasing organization. 

Four Common Vehicle Platform Development Projects

The four common vehicle projects selected to move to the next step encompass the following segment entries for both groups:

• A joint program for a compact class Multi-Purpose Van for Opel/Vauxhall and a compact class Crossover Utility Vehicle for the Peugeot brand.
  
• A joint Multi-Purpose Vehicle program for the small car segment for Opel/Vauxhall and the Citroen brand.
  
• An upgraded low CO2 small car segment platform to feed Opel/Vauxhall’s and PSA’s next generation of cars in Europe and other regions.
  
• A joint program for mid size cars for Opel/Vauxhall and the Peugeot and Citroen brands.

The Alliance aims to launch the first vehicles on these common programs by the end of 2016.

All four projects will be developed combining the best platform architectures and technologies from the Alliance partners.

Next Steps in Joint Purchasing Organization

The Alliance partners also confirmed the next steps in their joint purchasing organization. This collaborative effort will draw on the combined purchasing reach of both companies to realize purchasing synergies benefitting both companies. The joint purchasing organization will be subject to customary antitrust approvals.

Synergies Confirmed

Based on the above programs and the joint purchasing organization, both companies confirm the previously stated synergy target of $2 billion annually achievable within five years.

With the common vehicle development projects and next steps in purchasing organization now confirmed, the teams will work to finalize the associated definitive agreements in addition to exploring other cooperation opportunities.