The supplier said a rebound in production after coronavirus shutdowns had helped narrow full-year losses, and issued new guidance for 2020 showing positive free cash flow.

A French has court found that Polestar’s logo is similar enough to Citroen's "double chevron" to potentially confuse car buyers.

A new strategy to boost sharply falling sales for both automakers will likely involve fewer models, brands, platforms and factories.

Jacques Aschenbroich will remain as chairman of the French supplier until May 2023. COO Christophe Perillat will become CEO in January 2022.

The French supplier, which is preparing for a spinoff next year, said sales were down by 7 percent in the quarter, boosted by strong year-over-year growth in China. Sales in North America fell by 3.3 percent in the quarter.

Renault and Peugeot have put together elaborate, multi-day virtual events timed to what would have been the dates of this year's now-canceled Paris show.

Matthias Mueller, ousted in 2018 as Volkswagen Group CEO, joins tech investor Peter Thiel as prominent figures associated with Piech Automotive, founded by the son of former VW chairman Ferdinand Piech.

John Elkann, head of Fiat Chrysler parent Exor, will be Stellantis chairman, with Robert Peugeot as vice chairman. PSA CEO Carlos Tavares will be a board member.

The two suppliers cited a global production slump worsened by the COVID-19 crisis in deciding to dissolve their joint venture, which was finalized in 2018. It had hoped to develop semiconductor-based lighting. 

PSA repurchased 10 million of its own shares from Dongfeng, which took a big stake in PSA in 2014 as part of a bailout of the French automaker.

As part of the merger, PSA's 46 percent stake in the supplier will be distributed to all shareholders of the combined company, to be called Stellantis.

The companies will build two plants, one in Germany and one in France, that will be operational starting in 2023. By 2030 the factories will have the capacity to supply a million EVs a year, they said.

The market for sensor technology is expected to explode in the coming decade, outpacing forecasts for global auto production and racing to keep up with the rollout of components like night vision and hands-free steering systems.

The supplier said it is bundling its Car Powertrain and E-Mobility units into one division to "further accelerate the transformation to plug-in hybrids and electric drives."