PSA Peugeot Citroen has confirmed it was no longer collaborating with BMW on a joint venture to develop hybrid vehicle technology.
“This cooperation will not go on, there will be no jointly developed products,” Peugeot head of research and development Guillaume Faury told Agence France Presse (AFP).
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“We’ll continue what we started separately and there’ll be no joint production site,” he added.
BMW said in June that it was reconsidering the joint venture in light of a deal between PSA and General Motors while Peugeot did not release a statement at the time.
BMW and Peugeot had already collaborated for over a decade on petrol engines [they’re in the Mini – ed] when they announced in February 2011 they would extend their partnership to hybrid technology.
The pair spent EUR100m (US$129m) on the venture but Peugeot’s alliance with GM early this year “changed the joint venture’s conditions,” a BMW spokeswoman had said.
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By GlobalDataWhen asked whether Peugeot would now collaborate with General Motors on the hybrid technology, Faury said “it’s the sort of thing we’re studying with them.”
