PSA EV STRATEGY
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PSA EV STRATEGY IN THE NEWS
2018 Week 5 - PSA JV bailed out in China
Even foreign brands are not spared, state-owned Changan this week had to approve a 1.8 billion yuan ($285 million) bailout for PSA’s local Citroen DS venture after suffering a 68% drop in sales in 2017 which contributes to the company technically becoming insolvent. The funds will be used to realign the lossmaking 50/50 JV and to develop EV models. Most automakers are now focussing on EV development as a way to yet again use state incentives to prop up their finances. Changan also announced a 50/50 JV with Mazda to develop EVs where the local operator will supply the technology and the Japanese automaker the body. The first EV from the JV will be a compact crossover in 2019.
2018 Week 3 - PSA clarifies electric car plans
French PSA Group which include Peugeot, Citroen, DS, Opel, and Vauxhall also explained its electrification plans at the Detroit Auto Show during the Automotive News World Congress. According to PSA CEO, Carlos Tavares, the company aims to electrify its full line of cars and light-truck by 2025 and nearly all its models will have self-driving capabilities by 2030. The result is that PSA will launch 40 electrified models across its brands by 2025.
Week 23 2017 - Pro EV CEO at Opel replaced by PSA Peugeot Citroen board
Pro EV Opel CEO, Dr. Karl Neumann, is replaced by PSA Group Finance Chief Michael Lobscheller clouding Opel’s EV plans in uncertainty.
Week 11 2017 - PSA Group Acquires Opel and Vauxhall from GM
On the eve of the Geneva Auto Show, the PSA Group and GM announced the sale of Opel and Vauxhall brands to PSA Peugeot Citroën. The transaction is valued at £1.9 billion, making PSA the second biggest automaker in Europe. GM CEO, Mary Barra, indicated the two companies could still co-operate on electric vehicle and fuel cell technology.
It is uncertain how the acquisition would influence Opel CEO, Dr. Karl Neumann’s plans to change Opel to an all-electric brand.
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India’s 2030 EV plan is to make India a 100% EV country by the year 2030. This journey may be one of the most ambitious conversions the world has ever seen. We ask if the country will achieve this lofty target.
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