!NEW! GM General Motors and PSA Peugeot Citroën Provide Further Details of their Global Strategic Alliance

Steve Girsky, GM Vice Chairman, and Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board, responded to questions from journalists during a meeting organized at the Maison de l'Automobile in Brussels today.

Steve Girsky, GM Vice Chairman (right), and Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board

The meeting offered an opportunity to discuss in detail the progress made by the two partners in their global strategic alliance announced on 29 February 2012.

As indicated by both groups on December 20, 2012, the final agreements concerning purchasing, logistics and the development of common vehicle projects were signed in line with the initially announced schedule.

Balance in joint product development

Tasks and responsibilities with respect to the joint product development programs have been fairly and evenly distributed, in a commitment to enabling both partners to gain maximum advantage from the collaborative venture:

• The C-segment multi-purpose vehicle for Opel/Vauxhall, the C-segment crossover utility vehicle for the Peugeot brand and the B-segment multi-purpose vehicles for both carmakers will be developed on PSA Peugeot Citroën platforms.
  
• GM will lead the development of B-segment multi-purpose vehicles for both Groups.
  
• The updated B-segment platform for low emission vehicles, designed for the new generation of Opel/Vauxhall and PSA Peugeot Citroën cars in Europe and beyond, will be co-developed by both partners.

Joint purchasing organisation in Europe

Both companies had also signed a definitive agreement related to Purchasing. All relevant regulatory approvals were received in the meantime and the joint purchasing organization (“JPO”) will become operational shortly. In the transition phase leading up to the start-up of the JPO a GM executive will be appointed as an implementation executive in charge of putting the structures of the joint purchasing organization into place. After a maximum of one year the implementation Executive will be replaced by a Vice President Purchasing and a Deputy Vice President Purchasing – one from each company on a revolving basis.

Further Global Initiatives

GM and PSA Peugeot Citroën also confirmed their intention to develop new global projects to broaden their alliance and seize new opportunities. In this regard, they are exploring opportunities in growth markets including Latin America and Russia, which represent priority regions for both Groups.

In addition, the two Groups are aiming to jointly develop a new generation of small, fuel-efficient, high performance three-cylinder petrol engines, derived from PSA Peugeot Citroën's EB line of small petrol engines.