German automaker Opel is preparing to start manufacturing a compact car for French parent PSA at its main Ruesselsheim plant from mid-2021 onwards, German business daily Handelsblatt reported, and mentioned company sources for their information. The car will be based on PSA’s EMP2 vehicle platform, the paper reported, saying the move could be officially declared […]
PSA
PSA to produce surgical masks at Mulhouse site in France
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 […]
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 […]
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 […]
Peugeot family wants to quickly increase PSA-Fiat Chrysler stake
The Peugeot family, which is set to own a 6.2% stake in the new automaker resulting from PSA and Fiat Chrysler’s merger, aims to boost its holding as soon as possible, a representative stated in an interview. PSA and Fiat Chrysler agreed to a binding agreement earlier month on a $50 billion tie-up that will […]
Renault hires former PSA research chief Gilles Le Borgne
French automaker Renault has appointed Gilles Le Borgne as executive vice-president engineering and a member of the Group Executive Committee (CEG), effective on 6 January, the company has stated in a release. Gilles Le Borgne will report to Clotilde Delbos, the Chief Executive Officer of the group for an interim period. He will take the position of Gaspar Gascon […]
Dongfeng and PSA extend their joint venture
China’s Dongfeng Motor and Peugeot maker PSA are extending their business cooperation, regarding the Chinese company decreasing its stake in PSA to help smooth the French automaker’s merger with Fiat Chrysler Automobiles (FCA). Dongfeng stated on Thursday it had agreed with PSA to increase the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA). […]
Fiat Chrysler, Peugeot boards meet to finalize merger
The boards of Fiat Chrysler Automobiles and Peugeot are going to meet separately on Tuesday to talk about the finalization of an initial agreement for a $50 billion merger which would create the world’s number four automaker, sources stated. A source close to FCA stated the two companies could declare the signing of a binding […]
UAW members recommend approval of Fiat Chrysler labor deal
Union members of United Auto Workers from Fiat Chrysler Automobiles NV’s U.S. plants on Wednesday recommended authorization of a tentative labor agreement that would permit the Italian-American automaker to prevent a strike as it collaborates to merge with France’s Groupe PSA. Fiat Chrysler (FCA) and PSA, the innovator of Peugeot and Citroen, in October declared […]
European factories at danger in Peugeot-Fiat merger
Fiat Chrysler and Peugeot owner PSA’s vow not to shut down factories if they merge is probably to come under heavy strain as the combined group would have spare production ability of almost six million vehicles in a slowing automobile market. The companies last week revealed strategies to create a $50 billion group that would […]
White House to look at deal between Peugeot and Fiat Chrysler
U.S. President Donald Trump’s administration will take a look at the planned merger between Fiat Chrysler and Peugeot owner PSA, White House economic adviser Larry Kudlow stated on Friday. The deal declared on Thursday, would create the fourth-largest automaker in the world. “We will obviously look at it very, very carefully,” Kudlow stated on Bloomberg. […]
Italian government following talks of FCA and Peugeot
The Italian government is following talks between Fiat Chrysler and French automaker PSA over a possible tie-up, Industry Minister Stefano Patuanelli stated on Wednesday. Patuanelli informed reporters he could not discuss enough about the matter since a possible merger of the two was “a market operation”. The two automakers said on Wednesday they were holding […]
