Renault said China’s top economic planner has approved a joint venture between the automaker and Dongfeng Motor Group to build and sell cars in China.
Tag Archives: Dongfeng Motor Group
PSA reaches deal with unions to cut production costs
PSA/Peugeot-Citroen has reached a deal with labor leaders to reduce fixed costs at French factories, a key step as it looks for new partners to expand and shore up its finances.
Unions representing more than 60 percent of workers signed an agreement to freeze salaries in 2014 and reduce overtime pay in exchange for investment guarantees and new models, the Paris-based company said in a statement.
a Chinese chairman for PSA – maybe
A split in the Peugeot family over whether to invest more money in PSA/Peugeot-Citroen has led to fears that the French automaker could have a Chinese chairman, a scenario described by business daily La Tribune as “sacrilege.”
PSA is said to be discussing a capital increase of 3 billion euros. The automaker’s Chinese partner Dongfeng Motor and the French government would each pay 1.5 billion euros for stakes of between 20 percent and 30 percent.
Report suggests Dongfeng, French gov’t to take stakes in PSA
PSA/Peugeot-Citroen is preparing a 3 billion euro ($4.1 billion) capital increase in which Chinese partner Dongfeng and the French government would take matching stakes in the carmaker, people with knowledge of the matter said.
