Irvine BMW Confirms, BMW and PSA Start Joint Electric Venture
PSA Peugeot CitroŽn and BMW are announcing a new collaboration on a platform for electric hybrids, as well on next-generation Prince engines.
November 8, 2011 Ė Irvine, Calif. Ė Irvine BMW is excited to confirm, BMW and PSA Peugeot CitroŽn start electric joint venture.
The 50-50 joint venture is called BMW Peugeot CitroŽn Electrification and it has been approved after months of going through government regulations.
The electric hybrid platform will find its way in both BMW and PSA Peugeot Citroen vehicles.† Furthermore, the venture plans to launch an open technology platform that will sell components to other interested parties.
The two companies invested over 100 million Euros in a research and development facility in Munich and in a plant in Mulhouse, France. The new joint venture will create 650 jobs.
BMW Peugeot CitroŽn Electrification will design and build electric motors, generators and high-voltage batteries. The first components of the joint venture will find their way into production vehicles starting in 2015.
Collaboration between the two companies began in 2002 with the development of the Prince engine, a gasoline four-cylinder engine (1.4 and 1.6 liters) that powered MINI vehicles, as well as the Citroen C3, DS3 and Peugeot 207 and 308. BMW was responsible for design and engineering, while produced the engine.
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