French automaker PSA said on Thursday that it would start producing surgical masks at its site in Mulhouse, located in eastern France from August. The automaker said it would have a production capacity in the country of 10 million masks per month. The training of teams committed to this project will be organized from June […]
Peugeot
Fiat-Peugeot merger deal in spotlight after Exor setbacks
Fiat Chrysler’s decision to scrap its dividend has set another setback for plans by the Agnelli family’s Exor arm to raise cash following a $9 billion sale of its reinsurer unit PartnerRe collapsed this week. Fiat Chrysler and Peugeot owner PSA which have agreed a tie-up to form the world’s fourth largest automaker, stated on […]
EU regulators to decide on $50 billion Fiat and Peugeot deal by June 17
EU antitrust regulators will make a decision by June 17 whether to clear Fiat Chrysler and Peugeot maker PSA’s $50 billion merger, according to a European Commission filing on Monday. The companies declared the deal to form the world’s fourth biggest automaker in December, putting under one roof the Italian company’s brands including Fiat, Jeep, […]
PSA to resume production in France over this week
Peugeot owner PSA is among many automakers around the world to have been hit hard by the coronavirus. The French automaker said on Monday that it would gradually resume production at sites over the course of this week. PSA said a first wave in the partial resumption in industrial activity would occur between May 4 […]
Peugeot maker PSA says demand to drop significantly
French automaker PSA on Tuesday warned of significant drop in demand for the sector this year after publishing a 15.6% fall in first-quarter sales but maintained its mid-term operating margin goal. The owner of auto brands such as Peugeot, Citroen, DS, Opel and Vauxhall is working through a merger with Italy’s Fiat Chrysler but like others […]
PSA sets up fund for staff, health check measures due to coronavirus
French automaker and Peugeot owner PSA stated on Wednesday the creation of a solidarity fund to assist workers affected by the closures of plants because of the coronavirus outbreak, and new steps to protect the health of its workers. PSA stated it was forming the fund, ensuring the full compensation to every employee working in […]
Fiat Chrysler, Peugeot seek to raise cash before merger
With their sales hit by the coronavirus outbreak, automakers Fiat Chrysler and Peugeot’s owner PSA have delayed their shareholder meetings and are looking at ways to increase cash reserves ahead of their planned merger. The two automakers have turned to their banks to secure much required cash, and Fiat Chrysler (FCA) is looking at debt […]
French car registrations declined by 72% in March due to coronavirus
French car registrations dropped by over 72% in March because of the coronavirus outbreak and lockdown ordered by officials to fight the epidemic spread, France’s car industry association CCFA stated on Wednesday. Car registrations dropped by 73.43 percent last month at French automaker PSA which makes the Peugeot and Citroen brands. Car registrations at Renault dropped 71.60 […]
Fiat Chrysler does not see delay in PSA merger, says FIOM union
Fiat Chrysler did not made mention of any possible delay in the merger process with PSA during a call with unions on Tuesday, metal workers’ union FIOM stated. “No delay on the merger with PSA was mentioned to us,” FIOM representative Michele De Palma informed Reuters, correcting a previous FIOM statement which said a delay […]
PSA wants to resume two French plants, but unions disagree
French automaker PSA, the maker of the Peugeot and Citroen brands, said on Friday it came up with health measures to its unions with a view to progressively resume its European plants, which have been closed because of the spread of the coronavirus. PSA, which has halted production in all its European plants until March […]
Peugeot restarts car production in Wuhan
French automaker Peugeot’s joint venture in China with Dongfeng Motor Group stated on Wednesday it had resumed car production at its plant in Wuhan city. Wuhan was the epicenter of China’s coronavirus outbreak. The joint venture is also making vehicles from two other manufacturing bases in Chengdu and Xiangyang. A total of 81,218 cases of […]
Renault, PSA can benefit from coronavirus measures, says French ministry
French automakers PSA and Renault are entitled to take advantage from all measures put in place to combat the economic impact of the coronavirus outbreak, France’s Finance Ministry informed Reuters on Wednesday. Renault chairman Jean-Dominique Senard and Finance Minister Bruno Le Maire have together evaluated the prospects of the auto industry and agreed to continue […]
PSA closes European factories because of the spread of coronavirus
French automaker PSA stated on Monday the company will shut down its European factories until March 27 because of the spread of coronavirus outbreak. “The chairman of the executive board with the members of the crisis unit decided …on the closure of the vehicle production sites,” PSA stated. The move comes amidst the on-going merger […]
Peugeot CEO Tavares says Fiat needs to review China strategy
Peugeot CEO Carlos Tavares stated on Friday PSA and Fiat Chrysler (FCA) will have to evaluate their strategy in China in order to increase sales after the closing of the merger between the two groups. PSA and FCA are hoping to finalize a $50 billion merger in early 2021 that would establish the fourth-biggest automaker […]
Peugeot merger talks progressing well, says CEO Michael Manley
Fiat Chrysler’s CEO Michael Manley stated on Wednesday that merger talks with Peugeot owner PSA to form the world’s No. 4 automaker are progressing well and he hopes to have a deal completed under 12-14 months. Discussing with Reuters on the sidelines of an industry meeting, Manley said he doesn’t expect any major hindrance that […]
