FRANKFURT (Reuters) - European carmaker Opel said on Monday it stood to save up to half the development costs for new vehicles by sharing the floor assembly, vehicle electronics, chassis and powertrain with components supplied by parent company PSA Group (PA:PEUP).
Vehicle platforms make up 60 percent of the material costs for a new car, and PSA platforms come with modules for engines, seats, restraints, cockpits and infotainment systems that can be used by various brands, Opel said in a statement.
"Thanks to the jointly used platforms we will, depending on the programs, save between 20 percent and 50 percent of the development costs of every new Opel/Vauxhall model compared to its predecessor," Opel Chief Executive Michael Lohscheller said.
The new Corsa, which will make its world premiere next year, is currently being developed on PSA's compact platform, Opel said. The Grandland X SUV and the family-friendly Combo Life leisure activity vehicle (LAV) are based on the EMP2 platform, Opel said.
PSA last year bought loss-making Opel and British sister brand Vauxhall from General Motors (N:GM) in a $2.6 billion deal.