June 21, 2012 / 12:10 PM / 8 years ago

BMW says sticks with hybrid JV after PSA/GM tie-up

MUNICH, June 21 (Reuters) - BMW said it was sticking to plans for a joint venture to make hybrid cars after current partner PSA Peugeot Citroen agreed to a separate alliance with General Motors.

“We are examining together how the (joint) company can continue fulfilling its duties, but we are sticking with the joint venture,” a spokesman for BMW said on Thursday.

An article in La Tribune posted on the French paper’s website on Thursday said that BMW wanted to buy out PSA’s stake in the joint venture because it did not like the PSA’s recent alliance with GM and was worried about the French carmaker’s financial stability.

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