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Peugeot Citroen, BMW Form Hybrid JV

French car maker, Peugeot Citroen and Germany’s BMW have established a new joint venture.

    French car maker,Peugeot Citroenand Germany’sBMWhave established a new joint venture,The Wall Street Journalreports. The new entity will develop, purchase and produce powertrain components for hybrid vehicles.

    The 50-50 joint-venture is expected to launch operations in the second quarter of this year. BMW’s head of purchasing strategy,Wolfgang Güllich, has been appointed as the CEO of the new business, adds金融时报》.

    Click here for the story fromThe Wall Street Journal.

    Click here for additional coverage from金融时报》.

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