PSA Peugeot Citroën
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In 1974 Peugeot SA acquired a 38.2% share of Citroën. In 1976 they increased their stake of the now bankrupt company to 89.95%, thus creating the PSA Group (where PSA is short for Peugeot Société Anonyme, later to be changed to PSA Peugeot Citroën). Since Citroën had two successful new designs in the market at this time (the GS and CX) and Peugeot was typically prudent in its own finances, the PSA venture was a financial success from 1976 to 1979. PSA then purchased the ageing assets of Chrysler Europe, leading to losses for the consortium from 1980 to 1985.
The two brands retained their separate sales and marketing structures, but have benefited from a common technology, development and assembling assets.
PSA holds a collaboration agreement with Fiat known as Sevel (Société Européenne de Véhicules Légers SpA, owned 50% by Fiat, 25% by Automobiles Peugeot and 25% by Automobiles Citroën). As a result of this, two factories have been built assembling three ranges of vehicles, Sevel Nord and Sevel Sur.
There is a more recent agreement with Toyota Motor Corporation for the development and manufacturing of a series of minicars in a new factory in the Czech Republic. The resulting company is called TPCA (Toyota Peugeot Citroën Automobile) and it currently manufactures the Citroën C1, Peugeot 107 and Toyota Aygo.
There is also a new agreement with PSA and BMW; the new engines designed by this joint venture will replace PSA's TU engine family (ie. the ones used in PSA's cars today).
PSA is actively committed to develop its market presence and sales in many fast growing developing countries and regions of the world. This led to huge investments and partnerships in South America, Iran (Iran Khodro) and China (Dongfeng Peugeot-Citroën Automobile).
PSA also owns the logistics company Gefco and in the United Kingdom operates the aftermarket parts company Motaquip.
Since 1997, PSA's CEO is Jean-Martin Folz.
See also
- Sevel Van
- Dongfeng Peugeot-Citroën Automobile
- Vigo, in Galicia has PSA biggest factory in the world
External links
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