The companies said in their statement that the first jointly developed models will go on sale in 2016.
The joint vehicle projects will be:
- A compact crossover for the Peugeot brand and a compact multipurpose vehicle for GM's Opel and Vauxhall marques
- A subcompact multipurpose vehicle for both PSA and Opel/Vauxhall
- An upgraded low-CO2 subcompact-segment platform that will underpin Opel/Vauxhall's and PSA's next generation of cars in Europe and other regions.
The Opel/Vauxhall, Peugeot and Citroen models will be highly differentiated and fully consistent with their respective brand characteristics, the automakers said.
The companies said they will jointly develop a next generation of high-performance, fuel-efficient small gasoline engines derived from PSA's EB global small gasoline engine program. PSA introduced the EB 1.0-liter and 1.2-liter three-cylinder engine range on the Peugeot 208 subcompact earlier this year.
A definitive agreement to create a joint purchasing organization in Europe supported by a purchasing joint venture has been signed, the statement said, subject to antitrust approval.
Besides small cars to replace the current Opel Corsa and Peugeot 208 models, the carmakers will share development of a subcompact minivan, as well as a new vehicle platform in the compact category, PSA said today. The new architecture will spawn an Opel minivan likely to replace its current Zafira and a Peugeot crossover.
Large cars conflict
Sharing larger car production would also have raised politically fraught questions about whether to scrap assembly of the C5 in Rennes, western France, or the Insignia, Opel's flagship model, in Ruesselsheim, Germany.
"The subject was clearly too conflictual between France and Germany," Societe Generale analyst Philippe Barrier said. "The projects announced today are a long way from the mega-global alliance they were aiming for originally," he said. "But there's progress - and the addition of engines shows that Peugeot can be useful to GM."
The decisions carry forward the global alliance the companies agreed to earlier this year as both automakers seek to stop deep losses in the depressed and highly competitive European new-car market.