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GM – Peugeot Announce “Broad-Scale” Alliance

Partners anticipate improved European competitiveness.

by on Feb.29, 2012

The new partnership brings "tremendous opportunity" for both companies says GM CEO Dan Akerson.

General Motors and PSA Peugeot Citroen have confirmed the creation of a “long-term and broad-scale” strategic alliance they expect to contribute to improved profitability and competitiveness, especially in the weak European market where both makers have been struggling.

As part of their new partnership GM will take a 7% equity stake in the French manufacturer, becoming the second-largest shareholder in PSA after the founding Peugeot family, which will continue to hold a one-third stake in the firm.

Insight!

“This partnership brings tremendous opportunity for our two companies,” said Dan Akerson, GM CEO and Chairman. “The alliance synergies, in addition to our independent plans, position GM for long-term sustainable profitability in Europe.”

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Could Fiat/Chrysler Make a Bid for Peugeot?

Marchionne hints he may try to outbid GM for French alliance.

by on Feb.29, 2012

Might Fiat/Chrysler CEO Sergio Marchionne be the spoiler in talks between GM and Peugeot?

Might the Fiat/Chrysler alliance try to outbid General Motors to set up a global automotive powerhouse with French automaker PSA Peugeot-Citroen?

It’s clear that Fiat/Chrysler CEO Sergio Marchionne sees that as a potentially powerful alternative to letting PSA tie up with General Motors.  As TheDetroitBureau.com reported this week, GM is apparently seeking a 7% stake in the French company, while the two partners would set up a series of joint ventures to develop new products and powertrains.

Stay in the Know!

But according to a report by Dan Howes, of the Detroit News, Marchionne is ready to step in as the spoiler.  He previously considered an alliance with Peugeot, having approached the French maker with the idea of an alliance during the Geneva Motor Show three years ago, even as Fiat was considering the option of buying GM’s struggling Opel division – then on the auction block.

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