Peugeot Citroen and BMW Announce Cooperation on Electric Vehicles

BMW is making a big bet on the future of electric vehicles with the i3 and i8 coming in 2012, and it has a recent history of working with Peugeot on engine development like in the current Mini. They are also currently developing future four-cylinder engines together.

The two companies announced on October 31 that they will invest more than €100 million in development of future hybrid and electric powertrains. Plans already include a research and development center in Munich and a production facility in Mulhouse. Production of this technology will start as soon as 2015. 

The venture is called BMW Peugeot Citroën Electrification by the companies. By the end of 2011, the research and development center will be completed in Munich and employ about 400 people. The factory for this technology in Mulhouse, France, will employ a further 250 people, and it will produce batteries, electric motors, generators, power electronics, loading units and energy management software.