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BMW to Develop Hybrid Car Components Sans PSA
BMW AG tells Bloomberg News it will continue an electric powertrain project launched last October even as it moves to dissolve the two-year-old alliance with PSA Peugeot Citroen that created it.
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BMW AG tells Bloomberg News it will continue an electric powertrain project launched last October even as it moves to dissolve the two-year-old alliance with PSA Peugeot Citroen that created it.
France's La Tribune reports that BMW plans to acquire PSA's 50% of the electrification partnership, as the German carmaker previously said it might do.
The two carmakers agreed in autumn 2010 to form the BMW Peugeot Citroen Electrification venture to design, produce and market electric powertrain components. The venture consists of a €100 million R&D center in Munich and a plant in Mulhouse, France. The latter is scheduled to begin production of hybrid components in 2014. BMW says it might hire the employees at the two facilities.
BMW and PSA disclosed last month that they were in talks about ending the electrification partnership because of the French carmaker's tie-up with General Motors Co. in February. Late last month BMW also abandoned discussions with GM about joint fuel-cell research.
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