General Motors Chairman and CEO Dan Akerson (left) with PSA Peugeot Citroâ??n Chairman of the Managing Board Philippe Varin Wednesday, February 29, 2012 in New York, New York. GM and PSA Peugeot Citroâ??n today announce a strategic alliance that will profit both companies and improve their competitiveness in Europe. As part of the agreement, GM plans to acquire a 7 percent equity stake in PSA Peugeot Citroâ??n, making it the second largest shareholder behind the Peugeot Family Group. The alliance is structured around the sharing of vehicle platforms, components and modules; and the creation of a global purchasing joint venture. Each company will continue to market and sell its vehicles independently and on a competitive basis. (Photo by Stuart Ramson for General Motors)

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