The US and French car groups said in a press release that they would, together
- build a compact class multi-purpose van for Opel and a compact-class crossover utility vehicle for the Peugeot brand.
- develop a multi-purpose small car for Opel and Citroen.
- share an upgraded low-CO2 small car platform for Opel and PSA's next generation of cars
- start a joint program for mid-sized cars for Opel, Peugeot and Citroen.
GM and PSA, which both are losing money in Europe, hope to achieve combined annual savings of 2 billion dlrs a year as a result of their alliance. Those savings , which will come in part from a joint purchasing organization, will be achievable "within five years," they said in the press release.