Renault Ends Chinese Partnership, Looks for a New Start

With the rippling economic effects of the coronavirus outbreak starting to take hold, some industry analysts have begun floating the increasingly popular theory that various markets could stage a retreat from China. While the Chinese Communist Party’s mishandling of the pandemic — including cover-ups (and the possible manipulation of the World Health Organization) that ultimately encouraged the virus’ spread — are often cited as the impetus for the change, the actual decisions will be largely economic. COVID-19 threatens countless nations’ financial welfare as it simultaneously disrupts global supply chains.

The virus has also sent the auto industry into a holding pattern as manufacturers and suppliers hemorrhage money. While the assumption exists that this situation could encourage international automakers to refocus on domestic production, there haven’t been many examples to point to. Renault changed that this week, announcing plans to abandon its joint venture with China’s Dongfeng Motor Corporation. The move, however, may have less to do with the presumed industrial exodus than the company’s general financial situation.

Read more
FCA Losing Potential Dance Partners, Foreign and Domestic

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.

Read more
QOTD: Buy Russian?

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.

Read more
Electric Saab 9-3 Lives On As Turkey's 'National Car'

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.

Read more
Saab is the Automotive Kiss of Death, Apparently

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.

Read more
New PSA Boss Tavares Prepares To Rebuild Company

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.

Read more
Fushou: Donfeng's Dragon Won't Eat PSA's Lion

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.

Read more
PSA-Dongfeng Deal Backed By EU, Skepticism Remains

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.

Read more
Tavares-Led Peugeot Gains 5.27 Billion Euro Makeover

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.

Read more
PSA-Donfeng Deal Injects New Capital, Extended Life Into Peugeot

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.

Read more
PSA-Dongfeng Deal Approved, Chairman Urged To Scrap Deal

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.

Read more
PSA Peugeot Citroen, Dongfeng, France Reach Outline Deal
PSA Board Holding To Dongfeng, French Government Stock-Sale Plan
Tavares Could Take Reins at PSA Peugeot Citroen in March

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.

Read more
GM Sells PSA Peugeot Citroen Stake For A $150 Million Gain, Blesses Dongfeng/PSA Tie-Up

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.

Read more
  • Kwik_Shift_Pro4X [list][*] Outlander[/*][*] [url=https://www.mitsubishi-motors.ca/en/vehicles/outlander-phev?_gl=1*j13hn5*_up*MQ..&gclid=Cj0KCQjw0ruyBhDuARIsANSZ3wqcN5nA2aMvSGqloeS9xR0bOUYwfyddekyYgnmfm6cqP4Eg0MUqBUIaAqc2EALw_wcB&gclsrc=aw.ds]Outlander PHEV[/url][/*][*] Eclipse Cross[/*][*] RVR[/*][*] Mirage[/*][/list]This is all in Canada for 2024. How do they survive?
  • Akear When is Barra retiring?
  • AZFelix Fun duo who lived and worked in China for many years have a candid and crushing assessment on their EV manufacturing.
  • Vatchy Just think how many electric vehicles could be charged from a new nuclear power plant...
  • Arthur Dailey 'The capitalists will sell use the very rope that we use to hang them.' In our household we have cut down our shopping/spending and pay more to purchase products from 1st world nations or 2nd world nations that are our 'allies'. That also means quite often only buying and eating fruit and vegetables that are in season. Just like our parents and grandparents did.At least TTAC published an article on May 21st regarding LAN transformers that contravene the Uyghur Forced Labour Prevention Act being used in some BMW, Jaguar, Land Rover, and VW products?