PSA and BMW will jointly invest 100 million euros to build a hybrid company

The French automobile manufacturing brand Citroën and Germany’s BMW plan to invest 100 million euros to establish a hybrid technology joint venture company, BMW PSA Peugeot Citroen.

PSA Peugeot Citroën and BMW will work together to develop new technologies to meet more stringent emission standards to attract more consumers.

The production base of BMW Peugeot Citroen Electric Company is located in Mulhouse, France, and the R&D institution is located in Munich, Germany. BMW and PSA Peugeot Citroen have long-term partnerships and both parties have jointly developed engines.

The joint venture's German R&D organization will employ 400 employees before the end of the year. Its French factory will employ 250 employees when it is full. The French factory will start production in 2014. From 2014, BMW, Peugeot and Citroen will use the new technology of the joint venture.