PSA Peugeot Citroen (PEUP.PA) and China's Dongfeng Motor Group (0489.HK) will spend 200 million euros ($216 million) to develop a technology platform for small cars that will help to give them more products to boost sales in southeast Asia and China.
PSA Peugeot Citroen plans to build its next C3 compact model in Slovakia instead of France, sources close to the French carmaker told Reuters on Thursday.
As General Motors Co disposes its 7% shareholder interest in France's PSA Peugeot Citroen, the latter said it is currently in talks with Dongfeng about a potential tie-up.
French automobile manufacturer PSA Peugeot Citroen is nearing a €3.5 billion share sale deal with Chinese carmaker Dongfeng Motor Co. and the government of France. Under the terms of the deal, Dongfeng and the French state will each hold a 20% stake in Peugeot.
PSA Peugeot Citroen Chief Executive Officer Philippe Varin reportedly wants to tap the former chief operating officer of Renault SA to replace him as he steps down next year.
PSA Peugeot Citroen is preparing to replace its present Chief Executive Officer Philippe Varin for a joint venture with Chinese partner Dongfeng, according to sources familiar with the matter.
France's PSA Peugeot Citroen is looking into various ways of expanding its partnership with Chinese state-run car manufacturer Dongfeng Motor Corporation.
The following bids, mergers, acquisitions and disposals were reported on Wednesday including Telefonica Deutschland, Devon Energy, Metro AG, Devon Energy Corp and others
French car maker Peugeot is looking into a possible sale of top vehicle interiors and emission control technology company Faurecia. Peugeot exiting Faurecia might be necessary to secure another government bailout.
Despite saying the deal is finalized, a Dongfeng executive said it may take a bit more time before its completion.
Like a death in the family, union members of PSA Peugeot Citroen factory located in Aulnay, France mourn the closure of the 40 year old plan.
Chinese carmaker and France to contribute EUR1.5 billion individually for the expansion of Peugeot in Europe and in Asia.
A field of mainly private equity firms has tabled offers for logistics group GEFCO.