Filed under: EV/Plug-in, Hybrid, BMW, MINI, Citroen, Peugeot
In early February, BMW and PSA Peugeot Citroen officially hooked up on a joint venture (JV) to collaborate on hybrid vehicle technologies. BMW revealed that the main focus of the corporate tie up is to develop an open platform that could be used by all European automakers seeking entry in the hybrid segment.
Now, BMW has announced that "BMW Peugeot Citroen Electrification" (the official name of the JV) will invest €100 million ($138 million U.S. at the current exchange rate) into hybrid technology development and production. The JV will operate out of two locations: one near Munich, Germany and the other in Mulhouse, France. The Munich site will handle research and development of the hybrid components while production of the parts will take place in France.
The JV will kick off its work in the second quarter of 2011 and the first vehicles to make use of the technology developed by the partners should hit the streets in 2014.
[Source: BMW]
Continue reading BMW, Peugeot-Citroen to invest $138 million in hybrid joint venture
BMW, Peugeot-Citroen to invest $138 million in hybrid joint venture originally appeared on Autoblog Green on Mon, 07 Mar 2011 08:55:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsSource: http://green.autoblog.com/2011/03/07/bmw-peugeot-citroen-to-invest-138-million-in-hybrid-joint-vent/
No comments:
Post a Comment