PSA and Dongfeng Agree to Alliance
PSA Peugeot Citroen and Dongfeng Motor Group have agreed on the main terms of an alliance that will be backed by a $4.1 to $5.5 billion capital injection for the French automaker.
The two companies are in discussions to build on their existing Chinese joint venture in hopes to cooperate in other markets with the funding allowing Dongfeng and the French government to acquire stakes in PSA Peugeot Citroen.
SEE ALSO: Dongfeng Might Buy Big Stake in PSA
Rumor has it that the two automakers are planning joint production of compact cars for Southeast Asian markets.
[Source: Automotive News]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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