Peugeot Citroen and General Electric have decided to team up in an effort to develop new electric vehicle technology in Europe.
The two manufacturers will concentrate on the development of technology for both hybrid plug-in electric cars and electric vehicles that are wholly battery driven. The agreement is renewable, but non exclusive.
The aim with the joint venture is to develop technology for their B2B customers that will eliminate current problems with electric vehicles, including charging time, range and vehicle size.
As part of the agreement an electric vehicle centre will be set up in France to promote the new project. General Electric's Industrial Solutions division will become involved in the development of infrastructure products that are needed to make the projects viable, such as installer networks and charging stations. They will also work with Peugeot Citroen in the development of new electric vehicles and charging infrastructure.
General Electric Capital will also be tasked with providing electric cars for lease in France, Belgium, Italy, Germany, Portugal, the Netherlands, Sweden, Spain, the United Kingdom and Switzerland.
This will not be the first time the two manufacturers work together. Two months ago General Electric Capital was involved in the supply of Citroen C-Zero cars to 3M. General Electric is also interested in buying nearly 1,000 electric cars from Peugeot Citroen for use across Europe.
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