The alliance will be run by senior executives from each auto company, which will give GM and PSA the opportunity to get to know each other, and decide whether the initial spark can turn into something longer lasting.
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Both companies can use some good news in Europe, where GM is wrestling with deep losses at Opel, and PSA is looking for ways to revive Peugeot.
French automaker PSA, the parent of Peugeot and Citroen, and now a partner with GM, is facing its own crisis.
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Once GM acquires the shares, it will be the second-biggest holder of PSA, behind the Peugeot Family Group.
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