Peugeot says weighing broader cooperation with GM
PARIS (Reuters) - PSA Peugeot Citroen (PEUP.PA) and General Motors (GM.N) may expand their alliance plan to cover more vehicle categories and technologies, the French automaker said on Friday.
The companies may share larger vehicles, dual-clutch transmissions and a small car for emerging markets including Latin America, Peugeot said, in addition to pooled development and production of subcompacts and mid-sized cars, announced last month.
Plans to assemble a new compact vehicle at Peugeot's Madrid plant have been suspended indefinitely, the automaker said in a statement released after a meeting with union representatives in Paris.
GM and Peugeot announced their broad-based alliance on February 29, pledging savings from shared purchasing costs, research and development, vehicle platforms and production.
They also pledged to study cooperation opportunities in minivans, crossovers and small cars with hybrid powertrains or fuel-efficient downsized combustion engines.
Under the supervision of the 10-member alliance steering committee, GM and Peugeot will also set up working groups to develop joint projects including compact minivans and "low-emissions small cars", Peugeot said.
(Reporting by Laurence Frost; Editing by Christian Plumb)