PSA Peugeot Citroën
(previously Peugeot Société Anonyme) is a French manufacturer of automobiles and
motorcycles sold under the Peugeot and
PSA is the second largest automaker
based in Europe and the number seven in the world.
In 1974 Peugeot S.A. acquired a 38.2% share of Citroën. In 1976
they increased their stake of the now bankrupt
company to 89.95%, thus creating the
(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
was typically prudent in its own
finances, the PSA venture was a financial success from 1976 to
1979. In late 1978, PSA purchased the failing Chrysler Europe
from the troubled U.S.
parent firm for a nominal USD $1.00, plus assumption of outstanding
debt, leading to losses for the consortium from 1980 to 1985.
During this period, PSA lost its traditional competitive footing in
the executive car
World locations of PSA factories
The two brands retained their separate sales and marketing
structures, but have benefited from a common technology,
development and assembling assets.
PSA is actively committed to develop its market presence and sales
in many fast growing developing
and regions of the world. This led to huge
investments and partnerships in South
America, Iran (Iran Khodro) and China (Dongfeng Peugeot-Citroën Automobile).
Jean-Martin Folz was PSA's CEO
between 1996 and early 2007,
when he was replaced by former Airbus
. Streiff was
sacked on 29 March 2009, a day after the company posted a full year
loss for 2008. Streiff was replaced by Corus
chief executive Philippe Varin.
PSA held a
collaboration agreement with Fiat known as
Sevel (Société Européenne de Véhicules Légers SA and
Società Europea Veicoli Leggeri-Sevel S.p.A., 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 Sud.
a more recent agreement with Toyota Motor
Corporation for the development and manufacturing of a series of
city cars 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 was also a new agreement with PSA and BMW
the new Prince engine
was designed by
this joint venture and replace PSA's old TU engine family
In 2005, PSA Peugeot Citroën formed an alliance with Mitsubishi
Motors. Under the deal, PSA Peugeot Citroën would import the
for sale in Europe. Those
two models were based on the Mitsubishi Outlander
, and would be
assembled at Mitsubishi's plant in Okazaki
, Japan. Engine choices would include
PSA Peugeot Citroën's diesel engines and Mitsubishi's petrol
PSA, in a joint venture partnership with Ford Motor Company
since 1998, currently
supplies 1.4L, 1.6L and 2.0L diesel engines used in the various
models by Ford and its subsidiaries. In return, PSA gets diesel
engines with displacement of 2.2L and above, suitable for large
passenger cars and commercial vehicles.
PSA also sell their engines, gearboxes and other parts for minor
companies like Side-Bike
and PSA Peugeot
Citroen are going to collaborate in technology for electric vehicles
as the global race to
build green cars heats up.
PSA owns about 71% of automotive supplier Faurecia
, a company created by a 1997 merger
between Bertrand Faure and PSA-owned ECIA. PSA also owns the
logistics company Gefco
and in the United
Kingdom operates the aftermarket parts company Motaquip.
PSA has announced plans to sell an electric car in Europe starting
2010. PSA signed an agreement with Mitsubishi
to develop an electric car, the
, for the European market
based on i MiEV
four-door car, which goes on
sale in Japan in summer 2009.
- Ford And PSA Peugeot Citroen Announce Plans For
Expansion Of Diesel Engine Production
- MyWire | AFP: Mitsubishi, Peugeot may team up in electric