Dongfeng chair says PSA tie-up not limited to certain regions, Brazil and Russia are considered

Article by Christian A., on March 31, 2014

Xu Ping, chairman of Dongfeng Motor Group, remarked that the carmaker’s cooperation with PSA/Peugeot-Citroen is not restricted to certain geographical regions, with Brazil and Russia being considered. He remarked that Asia-Pacific region was just a starting point for the carmakers, which recently inked an alliance provided funds to the cash-strapped French carmaker.

Incoming PSA chief executive Carlos Tavares has singled Russia and South America as regions where it must improve its financial performance. PSA and Dongfeng -- which operates a joint venture in China – intend to develop new cars with an aim to capture a larger share of Chinese vehicle market. The carmakers also targets to triple overall sales in China to 1.5 million vehicles by 2020.

PSA and Dongfeng also seek to export more vehicles to other markets in Asia, particularly in southeast Asia. Chinese carmakers have been ramping expanding overseas by building plants and taking stakes in struggling foreign carmakers.

Presidents of China and France graced the signing of the framework agreement that entails the French government and Dongfeng taking matching 14 percent stakes in PSA. [source: automotive news - sub. required]

Topics: dongfeng, psa

If you liked the article, share on:

Pin It

Comments

Recommended

Reddit user Jdubbswrx spotted a rather deceptive move coming from the German automotive manufacturer Audi. He posted an image of the supposed exhaust of the new 2018 Audi SQ5 sporting...
by - March 29, 2017
McLaren car owners will be thanking the automotive company as it has decided to roll out new goodies for the 540C, 570S and 570GT sports car line-up. From this series...
by - March 29, 2017
On July 11, Audi is set to reveal its flagship luxury sedan, the all new A8. And at this moment, none of us are sure how this model will look....
by - March 29, 2017
The recent Porsche 911 is definitely considered one of the most elite sports car to grace the roads worldwide. The task of producing its successor is challenging enough for the...
by - March 29, 2017
British startup Zenos, which entered bankruptcy administration earlier this year is now back in business. The Norfolk-based sports car manufacturer was bought by a consortium of investors headed by AC...
by - March 29, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries