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Article: PSA invested more than BMW in new engine.(News)(PSA Peugeot-Citroen)(Brief Article)
- Article from:
- Automotive News Europe
- Article date:
- June 27, 2005
- Author:
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jens Meiners
PSA/Peugeot-Citroen financed 80 percent of the [euro]430 million industrial investment for a new gasoline engine family it will share with BMW.
This included [euro]330 million for a new assembly building in PSA and Renault's Francaise de Mecanique joint engine plant here. The other [euro]100 million includes investment in other plants that supply the Douvrin plant.
PSA's greater financial burden is in line with the larger percentage of engines it will get from the joint project.
Research and development costs for the new engine, which amounted to [euro]180 million, will be split.
Technological advances ...