The agreement, which will combine both the company’s knowledge in hybrid technologies, will facilitate joint development and production of components and also joint purchasing, leveraging economies of scale for both partners.
The signing of the MOU builds upon a long-standing cooperation between the two companies to jointly develop vehicle engines, including a 4-cylinder petrol engine for MINI, Peugeot and Citroen brand models as per the EU 6 requirements.
BMW chairman of the board of management Norbert Reithofer said that this cooperation will deliver a major contribution towards a competitive cost structure in the field of electrification and also represents another important step on the road to sustainable mobility.
