Tag: Dongfeng

By on August 18, 2017

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First it was Geely. Then Dongfeng. Now add Guangzhou Automobile Group to the list of Chinese automakers that have denied interest in acquiring Fiat Chrysler Automobiles (FCA).

FCA has seemingly been seeking a dance partner for a merger or acquisition for a year or two now, and the company’s stock rose earlier this week when Automotive News reported that a “well-known Chinese automaker” had made an offer to acquire FCA. The company has a market value close to $20 billion. Automotive News reported that the offer was rejected for not being enough.

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By on May 12, 2017

Lada Niva Russia 2009. Picture courtesy of AvtoVAZ (aka Lada)

The relationship between the United States and Russia over the past hundred years or so would put any soap-opera romance to shame. Russia was the enemy in the 1930s, then it was an ally, then it was the enemy. When I was a kid in the ’70s, the Soviet Union was absolutely the enemy and we all expected that someday there would be war between the countries. Despite a concerned media effort to paint McCarthy, Nixon, et al as panicked morons swinging at shadows, most of us figured the Soviet Union did, in fact, regularly attempt to interfere in American affairs. (Turns out McCarthy was as right as he was wrong, maybe more so.) Sure, you had the committed leftists who were willing to take a “honeymoon” there, but they were few and far between.

After the fall of the Iron Curtain, Russia-US relations enjoyed a thaw. It didn’t last. Now the same political left that excused Stalin’s purges is clutching its pearls over Crimea, while the right-wingers who used to seriously discuss a nuclear-equipped preemptive strike against Moscow see Mr. Putin as a sort of fun-loving, horse-riding fellow who has the guts to drive an F1 car in wet conditions.

This is the sort of stark dichotomy that tends to cause trouble if left untended. Luckily, there’s something that can be done about it.

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By on October 19, 2015

Turkey Saab 9-3

The Turkish Science, Industry and Technology ministry announced last week that it had purchased the intellectual property rights — but not naming rights — to the second-generation Saab 9-3 that was most recently produced by National Electric Vehicle Sweden, according to Digital Trends.

According to the ministry, the car will be produced with 85 percent of its materials coming from the country, and will sport a face from the defunct Cadillac BLS.

The Swedish car company, who owns most of the shuttered Saab, sold the rights to the Turkish government after it stopped producing the all-electric Saab in 2014. The new car will be powered initially by some engine, according to the report, with the ministry working with NEVS to make an electric powertrain.

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By on August 18, 2015

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The resurrected Swedish automaker producing electric 9-3s with a Saab badge signed an agreement with Dongfeng Motor Corporation to help stay afloat, GoAuto in Australia is reporting.

National Electric Vehicle Sweden, the Chinese company that purchased the remains of Saab after its parent company Spyker went bankrupt, announced that it would distribute electric cars in China with automotive giant Dongfeng and add a production facility there, the report details.

In return, NEVS will supply Dongfeng with engineering standards to help it meet safety standards in Europe and North America.

It certainly has been a bumpy road for Saab.

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By on April 14, 2014

Carlos Tavares

Though PSA Peugeot Citroen secured funding in a three-way deal between itself, the French government and Dongfeng, new boss and former Renault COO Carlos Tavares has a hard road ahead of him as he rebuilds the ailing automaker.

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By on March 17, 2014

Peugeot Display in China Circa 2013

In light of fears regarding the three-way deal between Dongfeng, PSA Peugeot Citroen and the French government leading toward a time where Dongfeng would take the reins of the ailing automaker, CEO Zhu Fushou assured his company would not do so.

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By on February 21, 2014

Dongfeng Peugeot 308

The PSA Peugeot Citroen-Dongfeng-French government deal agreed upon by the three parties earlier this week received initial backing from the European Union, though skepticism remains as to whether the deal will bring stability to the ailing French automaker.

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By on February 20, 2014

Carlos Tavares

Former Renault executive and incoming PSA Peugeot Citroen CEO Carlos Tavares aims to use the 3 billion euro investment made in the three-way pact between the automaker, the French government and Dongfeng as part of a 5.27 billion euro makeover of the automaker’s line of vehicles over the long-term.

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By on February 19, 2014

2011 Peugeot China 508 With Couple

The 3 billion euro ($4.1 billion USD) three-way deal between PSA Peugeot Citroen, Dongfeng and the French government, signed this week, is set to inject new capital and a much needed life extension for Peugeot, though at the expense of the Peugeot family ceding control after two centuries.

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By on February 18, 2014

Peugeot China 508

The founding family behind PSA Peugeot Citroen has approved the 3 billion euro ($4.1 billion USD) deal between the French government and Chinese automaker Dongfeng just an industry analyst penned an open letter for PSA chairman Thierry Peugeot to reconsider before it becomes too late to turn back.

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By on February 13, 2014

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PSA Peugeot Citroen, Dongfeng and the French government have reached an outline deal to raise $5.5 billion in capital through a planned share sale in a last-ditch effort by PSA to remain alive after General Motors walked out of a similar deal over the Iranian market last year.

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By on February 7, 2014

2014 Peugeot 508

With PSA Peugeot Citroen’s supervisory board’s blessing, CEO Philippe Varin is continuing talks with partner Dongfeng regarding the stock sale to both the Chinese automaker and the French government.

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By on January 27, 2014

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Sources close to the situation tell Reuters that Carlos Tavares, Carlos Ghosn’s former second in command at Renault, could start running rival PSA Peugeot Citroen as soon as March. Tavares officially joined PSA as CEO-in-waiting on Jan. 1. According to Reuters, Peugeot had previously said only that Tavares would take over sometime this year. Peugeot Chairman Thierry Peugeot told Le Figaro in an interview published over the weekend that the company’s board of directors would soon decide on the official transition date.

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By on December 20, 2013
GM CEO Dan Akerson and PSA CEO Phillipe Varin when the tie-up between their two companies was announced in 2012. Now, Akerson and Varin are both on their way out and GM has sold its 7% stake in PSA, though the companies continue to jointly work on some projects.

GM CEO Dan Akerson and PSA CEO Phillipe Varin when the tie-up between their two companies was announced in 2012. Now, Akerson and Varin are both on their way out and GM has sold its 7% stake in PSA, though the companies continue to jointly work on some projects.

General Motors sort of has a reputation for bad investments in Europe. In 2000, GM made a deal with Fiat wherein Fiat sold 20% of Fiat Auto to GM for $2.4 billion and the Italian automaker took a 6% stake in GM. GM also received a put option which in certain circumstances would have obligated the largest American car company to exercise that option and buy the rest of Fiat. In 2005, to get out of that deal, GM paid Fiat another $2 billion.

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By on November 26, 2013

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PSA confirmed that former Renault COO Carlos Tavares will take over the reins starting January 1st. Tavares assumes the role at a fortunate point in time for PSA: an alliance with Chinese car maker Dongfeng is underway, and Tavares’ predecessor, Philippe Varin, has already completed the difficult task of closing factories and cutting thousands of jobs, a difficult task in a country like France.

Now, Tavares will be tasked with helping PSA turn things around, with a slate of new product, a leaner organization and  reorganized brand structure. Despite Varin laying much of the groundwork for a potentially revitalized PSA, Tavares could end up in the right place at the right time – able to fulfill his dream of running a car company, while presiding over a successful turnaround.

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