Peugeot Citroen, GM unveil first joint-venture vehicles December 20, 2012 - 17:37 AMT PanARMENIAN.Net - PSA Peugeot Citroen and GM have unveiled the first vehicles they will develop together as part of a joint venture they hope will reduce costs and re-energize their businesses. According to The Associated Press, the French and American automakers said Thursday, Dec 20, that they plan to share development for three kinds of cars: a small family van, a small multi-purpose van and a low-emissions vehicle. The two companies inked an alliance earlier this year that included GM taking a 7 percent stake in Peugeot. The cost-saving alliance is part of efforts to turn around their businesses in Europe. Peugeot and Citroen are also looking at jointly building a high-performance, energy-efficient engine and expansion into Latin American markets. But they put on hold plans for a mid-size vehicle. Partner news  Top stories Finance Minister David Sargsyan met with the regional director of KfW German Development Bank Lars Oermann. The government has said it expects its debt burden to rise to 90.5% of GDP at the end of 2013 but it may have to revise the forecast. According to the agreement, 300 000 euro will be allocated to preparation of a feasibility report for Ararat valley flooding system. Flights will depart from Sharjah International Airport on Tuesdays and Fridays, Air Arabia said in a statement.   Partner news |  Latest news Adobe releases major updates to flagship products  There will also be integration with NY-based Behance, which Adobe acquired late last year for an undisclosed amount.Putin, Obama admit disagreement on Syria but pledge cooperation “We do have differing perspectives on the problem, but we share an interest in reducing the violence,” Obama said.U.S. releases list of prisoners slated for indefinite detention Most of the 48 on the list are from Yemen and Afghanistan. Two are now dead — one by suicide, the other by heart attack.Explosion rocks area near Afghan parliament in Kabul An explosion rocked an area in the west of the Afghan capital, Kabul, close to the country's national parliament, police said. |
