Electrification BMW Peugeot Citroen, a joint venture for hybrid components

BMW Group and PSA Peugeot Citroen have created a 50-50 joint venture, called BMW and Peugeot Citroen Electrification what proposes to develop and manufacture components for hybrid cars of the two partners launched since 2014.

Once in October signed a memorandum of understanding to expand cooperation on hybrid systems, the BMW Group and PSA Peugeot Citroen has decided to enter a new phase of their collaboration by signing an agreement that lays the foundation for creating a 50-50 joint venture Electrification called BMW Peugeot Citroen.

This agreement was signed on February 1 by Norbert Reithofer, director of BMW AG and PSA director Philippe Varin.

The new BMW Peugeot Citroen joint venture Electrification will focus on developing and producing hybrid components, including battery packs, electric motors, generators, chargers and other electronics and software necessary for hybrid systems. Joint research and development will lead to significant savings for both companies.

Electrification BMW Peugeot Citroen will become operational in the second quarter of 2011 and new hybrid components will equip both partners' vehicles since 2014.