The fast moving alliance created last month by General Motors and PSA Peugeot Citroen is wasting no time getting things into order as the two companies today announced the creation of a joint panel with five senior executives from each side (see the list below for the names).
The so-called Alliance Steering Committee will oversee all activities that are currently part of the alliance and explore other potential areas of cooperation
“The appointment of the Steering Committee members marks the first step for the alliance and illustrates the commitment of the two companies to begin working together,” said GM and PSA in a joint statement. “It is expected that work on joint projects will commence before the end of this year.”
GM agreed to buy a seven percent stake in PSA Peugeot Citroen for about US$423 million to form the alliance, which promises to return big savings for both groups, especially in what concerns their European operations.
The two automakers will form a division that will oversee joint global purchasing while they will also cooperate in numerous other areas ranging from product development and engineering, possibly even in manufacturing.
