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- Title
French Automaker Peugeot in Talks with China's Dongfeng.
- Abstract
The article reports on the plan of ailing French automaker PSA Peugeot Citroen SA to sell as much as a 30% stake in its company to Chinese automobile manufacturer Dongfeng Motor Corp. Ltd. According to analysts, troubled Peugeot should reach out to its Chinese partner Dongfeng for a cash infusion to save its financial troubles. It states that Peugeot lost $681 million in its automotive unit operation for the first six months of 2013. It relates the business failure of Peugeot, losing market share in Volkswagen AG, closing factories, and downsizing 11,200 jobs as part of a $10 billion restructuring plan.
- Subjects
PSA Peugeot Citroen SA; DONGFENG Motor Group Co. Ltd.; BUSINESS planning; STOCKS (Finance); STRATEGIC alliances (Business); BUSINESS failures; BUSINESS losses; CORPORATE reorganizations; AUTOMOBILE industry
- Publication
China Business Review, 2013, p12
- ISSN
0163-7169
- Publication type
Article