PSA Peugeot Citroen and General Motors today confirmed important steps toward the execution of their Global Strategic Alliance. Both automakers have confirmed four common vehicle platform development projects and plans the next steps in joint purchasing organization.

The four vehicles that will be co-developed encompasses a joint program for a compact-class Multi-Purpose Van for Opel/Vauxhall and a compact-class Crossover Utility Vehicle for the Peugeot brand, a small car segment for Opel/Vauxhall and the Citroen brand, an upgraded low CO2 small car segment platform for Opel/Vauxhall's and PSA's next generation of cars in Europe and other regions, lastly a mid-size car for Opel/Vauxhall and the Peugeot and Citroen brands.

Based on the above programs and the joint purchasing organization, both companies confirm that the synergy will let them save as much as $2 billion annually within five years. The alliance aims to launch the first vehicles on these common programs by the end of 2016.

With the common vehicle development projects and next steps in purchasing organization now confirmed, the teams will work to finalize the associated definitive agreements in addition to exploring other cooperation opportunities.