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Both companies have been cooperating for almost ten years. In 2002, both partners agreed to jointly design and produce 4-cylinder engines. Between 2006 and 2010, more than 1.8 million motors were built for a number of MINI, Peugeot and Citroën brand models. In February 2010, the two companies also agreed to develop the next generation of their jointly designed 4-cylinder gasoline engine, which will also meet EU 6 requirements. In October 2010 the two partners signed a memorandum of understanding, the joint venture formed by the BMW Group and PSA Peugeot Citroën to develop and manufacture hybrid and drive technology is now up and running.

The development and production spectrum of BMW Peugeot Citroën Electrification comprises all relevant components for electric powertrains, such as high-voltage batteries, electric motors, generators, power electronics, loading units and energy management software. This joint venture will enable both partners to create an open platform on these technologies and support the European industry to structure itself in the field of hybridization. To that end, the joint venture will be a full-fledged company and will both integrate suppliers by outsourcing development work as well as sell hybrid components to third parties.

The new company will be operating out of two locations - the greater Munich area, Germany and Mulhouse, France. At the beginning of 2012, the joint venture started with more than 430 employees. The new hybrid components will equip both partners' vehicles from 2015 onwards. The BMW Group and PSA Peugeot Citroën have invested more than 100 million EUR in their joint venture on hybrid technology.

"The BMW Group and PSA Peugeot Citroën are following a joint path with clear and ambitious goals," explained the Chairman of the Managing Board of BMW Peugeot Citroën Electrification Wolfgang Güllich. "We want our company to be one of the leading suppliers in the field of electric powertrains over the next years."