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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.

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“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.

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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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GM May Take 7% Stake in France’s Peugeot

Proposed alliance unlikely to resolve GM's Opel problem.

by on Feb.28, 2012

Will GM CEO Dan Akerson approve an alliance with PSA Peugeot-Citroen?

General Motors could take as much as a 7% stake in French automaker PSA Peugeot Citroen as part of a new alliance the two manufacturers are putting into place.

The alliance is expected to involve a variety of different areas of business, notably including joint vehicle and powertrain development, according to knowledgeable sources.  The key goal for both manufacturers would be to improve their economies of scale, especially in Europe, where GM last year lost $747 million.  But whether the proposed alliance will help turn things around for GM’s red ink-stained Opel division remains to be seen.

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Peugeot is the Continent’s second-largest maker on a unit sales basis but has serious problems of its own, rising debt leading it to plan a 1 billion Euro ($1.34 billion) rights offering that notably could reduce the holdings of the founding Peugeot family.

Beyond possible cross-holdings, the alliance appears to focus on three areas, according to sources: (more…)

GM in Alliance Talks With PSA Peugeot Citroen

Makers discussing “cooperations and alliances.

by on Feb.22, 2012

Does GM CEO Dan Akerson see a partnership with PSA as a way to solve Opel's problems?

General Motors and PSA Peugeot Citroen have confirmed they have begun discussing “possible cooperations and alliances.”

Both makers cautioned that their talks are still too early to discuss in detail, though industry sources are indicating that the U.S. maker, the world’s largest, and French-based PSA, Europe’s second-largest automaker by sales, are focusing on a manufacturing alliance – though some sort of joint product development could be in the cards, as well, other sources suggested.

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Such a move could be critical for GM, which is struggling to staunch ongoing losses at its German-based Opel subsidiary.  Despite hopes that its European operations would be back in the black, GM suffered a $700 million loss in 2011, raising concerns about the company’s prospects despite a record global profit of $7.6 billion for the year.

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PSA Sells off Rental Car Subsidiary

Maker shoring up against threat of new recession.

by on Nov.22, 2011

Citroen's DS5. The maker is shoring up core operations in the face of a new European economic downturn.

With the threat of a recession steadily rising, one of Europe’s leading automakers has elected to sell off its rental-cars subsidiary to raise cash.

Enterprise Holdings will purchase PSA Peugot Citroen’s Citer SA and its Spanish subsidiary Atesa to for an undisclosed sum.

Through its regional subsidiaries, Enterprise Holdings owns and operates the National Car Rental brands, as well as its flagship Enterprise Rent-A-Car brand in North America. The company also operates the Enterprise Rent-A-Car brand in the UK.  Meanwhile, with a fleet of approximately 30,000 vehicles, Citer SA has deep coverage through locations in main cities, railway stations and airports in France and Spain, two key European markets in which Citer ranks among the leading vehicle rental companies.

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PSA Peugeot Citroën emphasized the strategic opportunity that the transaction represents for Citer, which will be able to step up its development while benefiting from Enterprise Holdings’ leadership, Enterprise officials said.

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BMW, PSA Peugeot Citroen Form Battery Car Joint venture

Makers plant to partner on hybrids and electric car technologies.

by on Feb.02, 2011

BMW will produce the Megacity urban battery-electric vehicle at its plant in Leipzig, Germany.

The electrification of the auto industry is clearly making for some strange bedfellows.  We’ve seen Toyota team up with the California start-up, Tesla Motors – which has also been working with Daimler on battery car technology for its Mercedes and Smart brands.  Ford is partnering with Magna and Azure Dynamics.  Chrysler will take lead in developing battery technology for its partner Fiat.  Nissan and European partner Renault have major plans for battery vehicles – and have also partnered with Daimler.

Now comes official confirmation that BMW will be allying itself with the French PSA Peugeot Citroen in a partnership that will help both manufacturers ramp up their hybrid efforts.  The new agreement expands upon a more limited battery car program they had tentatively initiated last autumn.

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The 50-50 joint venture, dubbed BMW Peugeot Citroen Electrification, will focus on developing and producing everything involved in electrification, from battery packs to motors, chargers all the way to the sophisticated software needed to make the systems run smoothly and efficiently.

The partners want to come up with an array of hybrid systems that will be able to plug-and-play with a wide variety of different BMW, Citroen and Peugeot vehicles.  While they are focusing on hybrid systems, it is believed likely they will also cooperate on more advanced battery-based propulsion systems, including plug-ins and pure battery-electric vehicles, or BEVs.

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