Today BMW announced that they have reached an agreement for both parties to jointly develop a successor to the current four cylinder family of engines found in the MINI and several PSA products. The new engine will be more efficient and will meet EU 6 requirements that will come into force from 1 January 2015 for the registration and sale of all new cars in Europe.

Interestingly we’ve also heard rumors of BMW sharing some of it’s engines directly with MINI that are being developed or its new range of efficient vehicles. We’ll have more on this soon. Until then, the full release is below:

Official Release: The BMW Group and PSA Peugeot Citroën will continue their successful engine collaboration. An agreement to that effect was signed by Norbert Reithofer, Chairman of the Board of Management of BMW AG, and Philippe Varin, Chairman of the Managing Board of PSA Peugeot Citroën, in Paris.

The two companies have agreed to develop the next generation of the jointly designed 4-cylinder petrol engine which will meet EU 6 requirements. Currently, the engine is being used in several MINI, Peugeot and Citroën brand models.

The partners have also confirmed to examine other possible areas for cooperation at systems and component level, with the aim of leveraging synergies in the development, production and procurement of selected components.

“We have always been very successful in our cooperation with our partners, and that is particularly true with regard to PSA. We are delighted to continue our engine cooperation and look into options for further collaboration.” said Reithofer.

PSA Peugeot Citroën’s Chairman of the Managing Board Varin declared “this new agreement with BMW is confirming the success of the cooperation between our two companies which has produced 1.3 million engines since 2006. I am confident that the next generation of jointly developed engines will reach the same success as the current generation”.