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China News Agency, Wuhan, February 19 (Zhang Ling Xu Jinbo) here Dongfeng Motor Group 19, said in a news release, the company intends to inject about 8 billion stake in France''s PSA Peugeot Citroen Group (PSA), and the French government and the Peugeot family''s holding company a PSA tied for the largest shareholder, the move marks the automobile enterprises in China for the first time strategic stake in the world''s leading automotive companies.
France local time 18 days, Dongfeng Motor Group Co., Ltd. (hereinafter referred to as wind), the French government, the Peugeot family''s holding company and PSA Peugeot Citroen Group (PSA) memorandum of understanding signed by the parties. According to the memorandum of understanding, Dongfeng and the French government intends to respectively inject about 8 billion stake in PSA, after the completion of the transaction, Dongfeng, the French government and the Peugeot family''s holding company will become the PSA tied for the largest shareholder, third party were holding about 14%.
At the same time, Dongfeng and PSA also strengthen cooperation in the field of industry and commerce, signed a framework agreement. Future with Dongfeng PSA will increase the intensity of cooperation in the field of technology research and development, procurement, manufacturing and marketing, lifting platform scale, expand the core power assembly of economies of scale, improve the efficiency and level of development, the implementation of the whole value chain strategic collaboration, to further enhance the international competitiveness of Dongfeng and PSA.
According to Dongfeng Motor Group, the relevant person in charge of the 19, based on the consensus reached, Dongfeng and PSA will further deepen the whole value chain cooperation in the world. Cooperative plan includes, the two sides in China established center of research and development of the whole value chain, is committed to the joint development of car of new technologies, new products, mainly for Dongfeng, PSA, Dongfeng Peugeot Citroen Automobile Company provides research and development services; the two sides set up a company, overseas sales, is responsible for PSA, Dongfeng Peugeot Citroen Automobile Company products in Asia especially ASEAN''s sales and service operations, and in other overseas markets for collaborative.
Wuhan academy of Social Sciences expert Li Chunyang pointed out that Dongfeng PSA and deepen strategic cooperation, for both sides to further complement each other and play their respective advantages of the actual needs, will further enhance the competitiveness of both sides in the global automotive market. The two sides in the field of technology research and development, sales networks, and other collaborative advantage play, provide long-term sustainable development will promote the brand of Dongfeng passenger vehicle technical ability to quickly transition upgrades, technical system directly with the international standards, Dongfeng brand passenger cars, large-scale overseas exports to help.
At the same time, through this in multinational management and decision-making, will play a important role in promoting, and contribute to the maximization of PSA market structure optimization and adjustment, and synergy play to develop east of qualified personnel, to promote the process of internationalization of operations management.
It is reported, this strategic cooperation will have a profound impact on both sides of the joint venture Dongfeng Peugeot Citroen Automobile Company development. Future, both parent companies committed to accelerate the development of Dongfeng Peugeot Citroen Automobile Company, prompted the Shenlong Automobile Company in 2020 reached 1.5 million annual sales scale; Dongfeng Peugeot Citroen Automobile Company will produce Peugeot, Citroen and Dongfeng brand car, achieve sales and production cooperation in Asia and other emerging markets, global cooperation in the Dongfeng and PSA will play a more important role. (end)
[Financial decoding]
Dongfeng Automobile Company is one of China''s four major automotive group, its predecessor is 1969 founded in Shiyan, Hubei "second car factory", after 30 years of construction, has gradually built the Shiyan (mainly, heavy commercial vehicles, spare parts, automotive equipment industry), Xiangyang (to light commercial vehicles, passenger cars), Wuhan (on passenger cars), Guangzhou (passenger vehicles) of the four bases. The passenger car brands, including Dongfeng Fengshen, Dongfeng Nissan, Dongfeng Peugeot, Dongfeng Citroen, Dongfeng Honda, Dongfeng Yueda Kia, higashika Hirotaka, Dongfeng Renault.
PSA Peugeot Citroen Group is the world''s leading automotive manufacturers, the world''s top 100 enterprises in the top 500, its business in 150 countries around the world. 1976 Peugeot and Citroen incorporated PSA Peugeot Citroen Group, the actual control of the Peugeot family. PSA Peugeot Citroen Group as the second largest automobile manufacturers in Europe, but also Europe''s largest light commercial vehicle manufacturers. Its passenger car brand is mainly Citroen, DS, Peugeot. In the joint ventures in China are: joint venture with Dongfeng Motor, the establishment of Dongfeng Peugeot Citroen Automobile Company Limited, and a joint venture with Changan Changan Peugeot Citroen Automobile Co., Ltd.. (Tencent Financial Integration)
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