March 10, 2014
Reports: GM and Peugeot Strike Cost-Sharing Deal
Step to Saving $2-Billion
By Peter Neumann
DETROIT, Mi. (My TV20 News at 10) --- Reports are they're forming a production alliance to make better use of facilities on both sides of the Atlantic, and in doing so hope to save $2-billion.
CNBC reports that GM and the French automaker Peugeot will be working to develop new vehicles after they close some plants and cut jobs. GM will buy a 7% stake in Peugeot.