Dongfeng Motor GroupBRUCE GAIN PSA will survive for now, but long-term challenges remain 6:42 am U.S. ET | April 17, 2014  PSA/Peugeot-Citroen CEO Carlos Tavares' Back in the Race business plan and a cash injection from Chinese partner Dongfeng are almost certainly enough to ensure his company's short-term survival, but PSA's long-term prospects remain uncertain.... Read More »
Old and new alliances crucial to Tavares' turnaround plan for PSAApril 15, 2014 13:48 CET  PSA/Peugeot-Citroen will keep its industrial partnerships with General Motors, Toyota and Fiat despite the arrival of China's Dongfeng as a stakeholder in the automaker, CEO Carlos Tavares said.... Read More »
PSA's Tavares prepares to tackle pricing, low-cost threatsApril 12, 2014 12:08 CET  PSA/Peugeot-Citroen's prospects may be brightening as Europe emerges from a market slump, but new CEO Carlos Tavares still faces long odds as he prepares to present his Back in the Race recovery plan on Monday.... Read More »
PSA partner Dongfeng posts strong 2013 profitMarch 31, 2014 12:17 CET  Dongfeng Motor, which is taking a 14 percent stake in PSA, reported a better-than-expected 16 percent rise in 2013 profit due to a rebound in sales at its Japanese partners.... Read More »
PSA and Dongfeng may cooperate in Russia, BrazilMarch 28, 2014 11:20 CET  Dongfeng Motor Chairman Xu Ping said his company's cooperation with PSA could be expanded to include Brazil and Russia, two regions where the French automaker must improve its financial performance.... Read More »
PSA signs Dongfeng deal; recovery hurdles remainMarch 26, 2014 19:36 CET  French President Francois Hollande and his Chinese counterpart, Xi Jinping, oversaw the signing of a deal that will see Dongfeng Motor and the French government take matching 14 percent stakes in PSA/Peugeot-Citroen.... Read More »
PSA board selects ex-Airbus chief Gallois as new chairmanMarch 19, 2014 06:01 CET  PSA/Peugeot-Citroen's board selected ex-Airbus Group CEO Louis Gallois as its next chairman as the carmaker prepares for a capital tie-up with Dongfeng. He will succeed Thierry Peugeot as the first chairman outside the company's founding family.... Read More »
Dongfeng CEO says his company won't 'eat' PSAMarch 15, 2014 06:01 CET  Dongfeng CEO Zhu Fushou has sought to quell fears over his company's planned purchase of a 14 percent stake in PSA, saying the Chinese company was not seeking to take control of PSA.... Read More »
PSA narrows search for new chairmanMarch 13, 2014 06:01 CET  PSA has narrowed the search for a new supervisory board chairman to ex-Airbus Group CEO Louis Gallois and former Nexans CEO Gerard Hauser, a source said.... Read More »
Renault-Dongfeng China JV to rely heavily on NissanMarch 6, 2014 06:01 CET  Renault will rely heavily on alliance partner Nissan for manufacturing staff in China when it starts producing locally built crossovers with Dongfeng in 2016.... Read More »
YANG JIAN Why the PSA-Dongfeng deal does more harm than good 12:01 am U.S. ET | Feb. 27, 2014  The bailout that PSA negotiated with the French government and Dongfeng will prop up the French automaker in the short term but could cripple its competitiveness in the long run.... Read More »
PSA gets EU backing to sell stake to French gov'tFeb. 20, 2014 09:49 CET  PSA has initial EU backing on its agreement to sell a stake to its home government. PSA plans a 3 billion euro capital increase in which Dongfeng Motor and the French state will contribute about half the money for stakes of 14 percent apiece.... Read More »
PSA-Dongfeng deal seen as necessary, but skepticism remainsFeb. 20, 2014 12:27 CET  PSA/Peugeot-Citroen's tie-up with Dongfeng and the French government may not bring stability to the struggling automaker, observers said. PSA will change radically after “the dragon came to the rescue of the lion," a newspaper said.... Read More »
'Car guy' Tavares will become PSA chief on March 31Feb. 19, 2014 12:36 CET Industry analysts say former Renault executive Carlos Tavares, who will succeed Philippe Varin as PSA CEO on March 31, is the right man to lead the automaker.... Read More »
PSA unveils Dongfeng deal with 2013 lossFeb. 19, 2014 06:01 CET  PSA/Peugeot-Citroen announced a 3 billion euro ($4.1 billion) tie-up with China's Dongfeng Motor as the French carmaker posted a further loss for 2013. PSA warned that it may not halt losses until 2016 -- a year later than initially promised.... Read More »
Dongfeng deal buys PSA time, gives it new bloodFeb. 18, 2014 17:22 CET  PSA and Dongfeng have agreed on a 3 billion euro ($4.1 billion) capital tie-up that buys the French carmaker more time to turn around its business, brings in new management and ends two centuries of family control.... Read More »
PSA and Dongfeng sign capital tie-up deal, report saysFeb. 18, 2014 08:19 CET  PSA/Peugeot-Citroen and Dongfeng have signed a memorandum of understanding to proceed with a planned 3 billion euro ($4.1 billion) capital tie-up, a source said. The deal was signed after PSA's board approved the tie-up. An announcement is scheduled for Wednesday.... Read More »
Peugeot family approves draft Dongfeng deal, report saysFeb. 17, 2014 20:58 CET  PSA/Peugeot-Citroen's founding family gave the go-ahead on Monday for a 3 billion euro ($4.1 billion) tie-up with China's Dongfeng Motor that would draw a line under one of France's oldest industrial dynasties, sources said.... Read More »
Peugeot family vote on PSA's future, report saysFeb. 16, 2014 16:40 CET  The Peugeot family, the largest shareholder in PSA/Peugeot-Citroen, will meet on Monday to decide whether to give its blessing to two deals aimed at securing the French carmaker's future, a source said.... Read More »
PSA recalls 9,285 cars in China on brake issueFeb. 14, 2014 10:48 CET  PSA's China joint venture with Dongfeng Motor will recall 9,285 cars due to contaminated brake fluid, China's quality watchdog said.... Read More »
BRUCE GAIN French gov't will be 'decisive' PSA stakeholder 12:01 am U.S. ET | Feb. 13, 2014  The French government doesn't intend to be a silent partner when it takes an expected step to acquire a 14 percent stake in PSA/Peugeot-Citroen.... Read More »
PSA and Dongfeng reach outline deal, report saysFeb. 12, 2014 17:55 CET  PSA/Peugeot-Citroen has reached an outline deal with Dongfeng and the French government to raise up to 4 billion euros in fresh capital and deepen cooperation with the Chinese carmaker, sources said.... Read More »
Dongfeng confirms talks with PSA but says no deal reachedFeb. 10, 2014 10:47 CET  Dongfeng confirmed that it had held talks with PSA about a potential investment in the French carmaker, but said no agreement had yet been reached between the two groups.... Read More »
PSA-Dongfeng talks to enter final stage in China, report saysFeb. 7, 2014 20:34 CET  PSA/Peugeot-Citroen negotiators and French government officials are leaving for China this weekend, sources said, for what they hope will be a final round of tie-up negotiations with Dongfeng Motor.... Read More »
PSA board restates support for Dongfeng talks amid Peugeot family squabbleFeb. 6, 2014 21:27 CET  PSA is sticking to a $4.1 billion stock-sale plan it's negotiating with France and Dongfeng amid criticism by investors and Peugeot family members.... Read More »
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