French Cars Are Coming Back to US Streets, But You Can't Buy One
New vehicles from Group PSA, which consists of Peugeot, Citreon and DS, are returning to the U.S. streets but you won’t be able to buy one, at least at first.
Fortune reports that PSA plans to start a car-sharing service in Los Angeles in partnership with Bollore Group. PSA has already starting investing in start-ups and expanding into new business ventures, part of a turnaround plan after the company nearly went bankrupt in 2014.
“We’re working with a good number of cities, including LA, to offer car-sharing solutions with Bollore Group,” CEO Carlos Tavares said. By 2021, PSA’s goal is to generate $337 million in revenue strictly from its new mobility services division.
When the service will start and which vehicles it will use is not clear, though some have speculated that the service may launch the cars with an entirely new nameplate rather than Peugoet, Citroen or DS.
Launching the ride-sharing service will be the first step in a 10-year plan for PSA to begin selling cars in the US to the public.
Stephen covers all of the day-to-day events of the industry as the News Editor at AutoGuide, along with being the AG truck expert. His truck knowledge comes from working long days on the woodlot with pickups and driving straight trucks professionally. When not at his desk, Steve can be found playing his bass or riding his snowmobile or Sea-Doo. Find Stephen on <A title="@Selmer07 on Twitter" href="http://www.twitter.com/selmer07">Twitter</A> and <A title="Stephen on Google+" href="http://plus.google.com/117833131531784822251?rel=author">Google+</A>
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