The BMW Group and PSA Peugeot Citroën have signed an agreement to establish a joint venture aimed at developing hybrid drive technologies. The company, to be called BMW Peugeot Citroën Electrification, will develop and build components for hybrid systems, including battery packs, generators, chargers, controllers and software. By sharing R&D, purchasing and production, the partner companies feel that they’ll be able to develop and build hybrid vehicles more economically than their competitors.
Ultimately, the goal of the group is to create an open platform to benefit the EU automotive industry and push the development of hybrid vehicles. The group is clear that this is a commercial venture, and any technology or products developed will likely be available for licensing from competitors. Management and workers will be drawn from the respective partner companies, and the joint venture is expected to launch by the third quarter of 2011. If all goes as planned, expect to see results from the group as soon as the 2014 model year.
Source: BMW Group