Reuters (Geneva) - PSA Peugeot Citroen said it planned to introduce mid-sized cars based on General Motors vehicles, while the U.S. automaker would draw on Peugeot small car architecture as a first step in their new alliance.
Under the partnership announced last week in purchasing, vehicle development and production, GM and Peugeot aim to begin sharing minis and larger cars in the so-called B and D size categories.
"It's clear where both parties' strengths are," Peugeot Chief Executive Philippe Varin said on Wednesday. "We can probably bring more on the B segment and GM can bring more on the D segment."
For each of the first shared vehicles, to be introduced from 2016, Varin said the alliance would use one or other partner's existing platform, or underlying design and component set, rather than develop a new one from scratch.
Existing Peugeot and GM subcompacts include the Citroen C3, due for a replacement around 2016, and the Corsa, sold under GM's European Opel and Vauxhall brands.
Their mid-sized offerings include the Opel Insignia, Peugeot 508 and Citroen C5.
Detroit-based GM has agreed to pay 304 million euros ($399 million) for a 7 percent Peugeot stake to cement the alliance, as part of a new share issue set to raise 1 billion euros for the struggling French automaker.
The $2 billion in targeted annual synergies does not include any engine sharing, Varin said on Wednesday, adding that it was "too early to say" whether GM might ultimately share diesels with Peugeot and current engine partner Ford.
Peugeot's existing powertrain deals with Ford and luxury car maker BMW were not threatened by the GM alliance, the CEO said. "These partnerships should continue and they will continue."
