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:

Comments

Recommended

Amid reports that major rival Volkswagen would cease producing 2016 and 2017 model year diesel cars following the wake of the "Dieselgate" scandal, it’s believed that Chevrolet sees its opportunity...
by - May 22, 2017
Honda recently whips out a new feature for the S660 Bruno Leather Edition. Any guesses? Well, it’s going to be an iPhone app that goes by the name Rev Beat....
by - May 22, 2017
And so it goes, Ford is not at all closing its doors to an all-electric F-150 pickup. The American manufacturer initially laid out its plans for an F-150 hybrid earlier...
by - May 22, 2017
As it is now, Nissan Motor’s Nismo road car operations is a relatively a small business, with an annual volume of 15,000 performance-oriented cars. However, Nissan is giving Nismo fans...
by - May 21, 2017
The refreshed 2018 Acura TLX will be hitting the showrooms next month with a starting price of $33,000 for the TLX 2.4L and $36,200 for the V6. Coming out with...
by - May 21, 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