General Motors has announced plans to sell off their entire 7 percent stake in PSA Peugeot Citroen.
Despite looking a precursor to the end of the alliance, GM Vice Chairman Steve Girsky downplayed the move by saying the “The alliance remains strong with our focus on joint vehicle programs, cross manufacturing, purchasing, and logistics." He added "We’re making good progress while remaining open to new opportunities.”
While the alliance has faced its fair share of challenges, GM confirmed they are still developing two models which will be based on PSA platforms – a B-segment MPV and a C-segment crossover. The latter model will be built at the PSA plant in Sochaux, France while the MPV will be made at GM's España plant in Zaragoza, Spain.
While PSA recently backed out of a B-segment platform project - that would have spawn new versions of the Peugeot 208, Citroen C3 and Opel / Vauxhall Corsa - the companies have announced plans to create a new B-segment light commercial vehicle that will be based on a PSA platform.