Photo: Dongfeng
Chinese-based Dongfeng Motor is planning to buy a 30 percent stake in PSA Peugeot-Citroen, a report from China Business News revealed earlier this week.
Citing an unidentified Dongfeng official, the source says the automaker is conducting initial talks with PSA to acquire a 30% percent stake at $1.6 billion (CNY10 billion), adding that “the outcome is still highly uncertain”.
The financially-troubled automaker declined to confirm the rumor, but admits it is analyzing new industrial and commercial development projects with different partners: “We have a partnership with Dongfeng and e are looking at how we can expand it, but nothing more has been decided,” a PSA spokeswoman told Automotive News.
Founded in 1969, Dongfeng Motor is one of China’s biggest car manufacturers and the Chinese partner of many automobile and truck companies, including Honda, Nissan, Cummins, and Peugeot-Citroen.
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The financially-troubled automaker declined to confirm the rumor, but admits it is analyzing new industrial and commercial development projects with different partners: “We have a partnership with Dongfeng and e are looking at how we can expand it, but nothing more has been decided,” a PSA spokeswoman told Automotive News.
Founded in 1969, Dongfeng Motor is one of China’s biggest car manufacturers and the Chinese partner of many automobile and truck companies, including Honda, Nissan, Cummins, and Peugeot-Citroen.
Story via AutoNews
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