GM To Share Vehicle Projects With Peugeot
FRANKFURT, Germany (AP) — General Motors is saying more about the kind of cars it will build as part of its alliance with France's PSA Peugeot Citroen.
The companies said Wednesday they'll develop a joint program that will make a small van for GM's Opel and Vauxhall brands and serve as the basis for a compact crossover vehicle for Peugeot. They'll also develop a new, low-emissions small car and work together on mid-size cars and small vans under both companies' brands.
The two companies inked an alliance earlier this year that included GM taking a 7 percent stake in Peugeot. They said they would combine their purchasing and save $2 billion a year by 2017.
The cost-saving alliance is part of GM's effort to make its European business profitable after years of losses.