Norbert Reithofer, representing BMW Group and Phillipe Varin from PSA signed today a new partnership regarding the development of hybrid components for front-wheel drive vehicles. Through this partnership, the two companies will jointly develop components to be used for hybrid models.
This partnership is convenient for everyone as the manufacturing costs will be supported by two companies not by one. Philippe Varin, PSA CEO stated that together with the reduced costs there will be one more advantage regarding this partnership.
More exactly, the two companies will share their knowledge and ideas on the components that follows to be made together in order to obtain a step forward compared to the other rivals on the market. This partnership comes more like an extended cooperations as the German and French companies are working together for some time. However, the two manufacturers decided to keep secret for now the details of this new partnership.