PSA/Peugeot-Citroen will move out of its Paris headquarters in 2017 to a location in the city’s western suburbs as part of a cost-saving push under its new part-Chinese ownership structure.
PSA France director Xavier Duchemin revealed the decision today on the sidelines of a New Year press conference at the building on the prestigious Avenue de la Grande Armee, near the Arc de Triomphe monument.
By STEVE KARNOWSKI
A Minnesota driver who went to prison for a crash that killed three people grabbed national attention when he was freed amid reports of Toyota Camrys that would mysteriously accelerate. Eight years after that accident, his lawsuit against the Japanese automaker goes to trial Wednesday. Koua Fong Lee and other survivors of the crash are seeking damages from Toyota.
Beijing Hyundai, a 50-50 joint venture between Hyundai and Beijing Automotive Industry Holding Co., will begin building its fourth and fifth plants in China next year to respond to surging demands in the world’s largest automobile market. Each plant will eventually have annual production capacity of 300,000 units; the new plants will increase Beijing Hyundai Motor Co.’s capacity to 1.65 million units per year.
After showing off at the Paris motor show a car concept that could theoretically be a Porsche Panamera competitor, Infiniti’s next concept car, the Q60, is taking aim at the BMW 4 series.
Sergio Marchionne, the architect of the auto industry’s biggest deal in more than a decade, may not be finished yet. Even as he completed the merger of Fiat and its U.S. Chrysler unit last year to create Fiat Chrysler Automobiles, Marchionne said the industry is still fragmented and ripe for further consolidation.
His planned spinoff of Ferrari this year puts the $14 billion automaker into position for another combination that could form a group to vie with global No. 1 Toyota or help address shortcomings in Asia.
