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The partners plan to form a joint venture for purchasing parts for their European operations, and also to develop three vehicles jointly -- a minivan under GM's Opel/Vauxhall badge, a Peugot-badged compact SUV, and a crossover minivan that can be rebadged across both groups. Down the road, the parties will also cooperate in developing a modernized car platform featuring low CO2 emissions, which either or both groups can later market.
The companies noted in a statement that they expect to see the first cars developed under this new alliance arriving in time for model year 2016.