General Motors Co. and PSA/Peugeot-Citroen will co-develop four vehicle projects as part of their alliance, the companies said in a joint statement.

The projects will cover:

• A joint program for a compact multipurpose van for Opel and a compact SUV/crossover for the Peugeot brand.

• A joint multipurpose program for the small car segment for Opel and the Citroen brand.

• An upgraded low CO2 small-car segment platform for Opel's and PSA's next generation of cars in Europe and other regions.

• A joint program for mid-size cars for Opel and the Peugeot and Citroen brands.

The automakers said they aim to launch the first vehicles on these common programs by the end of 2016.

"All four projects will be developed combining the best platform architectures and technologies from the alliance partners," GM and PSA said.

"Beyond this, PSA and GM are currently sounding out whether to extend the cooperation potentially to other fields," GM added in a statement.

The automakers will continue to develop a joint purchasing organization aimed at achieving $2 billion annual savings within five years.