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GM-PSA steering committee meets, plans take shape

Published on May 10, 2012 6:00 AM

DETROIT (REUTERS) - General Motors (GM) and PSA Peugeot Citroen are hammering out agreements for the projects they want to tackle together as part of their new global alliance, including expanding the number of vehicles they will build on shared platforms.

The alliance steering committee - made up of five top executives from each automaker - was scheduled to meet for the first time in Detroit on Wednesday.

'Work teams are in place, meeting regularly and hopefully soon we will be able to share the first update on alliance progress,' GM said in a statement, declining to comment further on the meeting.

A PSA spokesman declined to comment, but executives for the French automaker have been talking openly about their hopes for the alliance, which GM and the French automaker announced in late February with the goal of saving at least US$2 billion (S$2.5 billion) annually within five years, split about equally between the partners.

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