Source : Procurement Leaders
A joint venture between automotive giants GM and Peugeot Citroen which puts collaborative purchasing as a key part of its strategy, will launch four projects before October.
The agreement between the US and European car giants was sealed earlier this year in a deal which saw GM pay more than $400m for a 7% stake in Peugeot.
Investors are reportedly concerned that the alliance is in place purely to aggressively chase cost savings, with a target of $2bn after five years having already been put on the table. The news of the projects, which, according to French paper Les Echos, is outlined in a memorandum of understanding between the two organisations, will ally some of those fears.
The newspaper reported that the projects are focused on a small car for emerging markets, as well as a low-carbon-emission vehicle, a medium-size car and a sedan.
GM’s chief executive Dan Akerson has said that two jointly-developed cars will go on sale by 2016.