It looks more certain by the day that a Chinese state owned automaker will buy a major stake in a major active European automaker for the first time. The giant Dongfeng Motor conglomerate wants the ailing French car company PSA Peugeot Citroen, and all signs say they will get it soon.
PSA Peugeot Citroen’s board has approved a plan for an alliance with Dongfeng in which the Chinese carmaker and the French state would buy large minority stakes at a 40 percent discount to Peugeot’s current share price, a source familiar with the matter said.
Peugeot is developing a new mid-size SUV for the Chinese car market. The SUV will be called Peugeot 6008 and it is expected to debut in 2015. The 6008 is based on the new PSA EMP2 flexible platform, which is available with a wheelbase of 2620mm, 2840mm, or 2900mm.
Power will come from a 163hp 1.6 liter turbocharged four cylinder and from a new V6 engine that is currently under development especially for Asian markets. Price will start around 200.000 yuan and end around 250.000 yuan.
The Peugeot 6008 SUV will be made in China by the Dongfeng-PSA joint venture. Currently, Dongfeng-PSA makes only one SUV, the Peugeot 3008. In the future the JV will also manufacture the 2008 and 4008, besides the 6008.
The might of the largest Chinese car companies is growing in a ever faster pace. The latest example is Dongfeng Motor, which is considering the purchase of a large stake in troubled PSA Peugeot Citroen, but only if Chief Executive Philippe Varin leaves the company first. PSA has already started interviewing candidates to replace Varin, after Chinese partner Dongfeng said a deeper alliance should be accompanied by management change.
The China-made Peugeot 2008 SUV has arrived at the 2013 Guangzhou Auto Show where it will debut tomorrow, but we got it one day earlier. A completely uncovered example was seen on the Peugeot booth-under-construction in the exhibition hall, sadly painted in that boring brown that seems to become a trend here in China.
The 2014 Peugeot 301 sedan has been launched on the China car market. Price starts at 84.700 yuan and ends at 116.700 yuan. The Peugeot 301 is a new small-size sedan especially developed for emerging markets. The Peugeot 301 is basically the same car as the new Citroen C-Elysee that was launched in September.
Spy shots showing the new 2014 Peugeot 308 sedan testing in China. The new Peugeot 308 sedan will debut on the April 2014 Beijing Auto Show and it will be launched on the China car marker around the same time. The Peugeot 308 sedan will be made in China by the Dongfeng-PSA joint venture.
Insiders from Dongfeng have confirmed that the company was in talks with the struggling French automaker PSA Peugeot to acquire a 30 percent stake, which would make Dongfeng Motor Corp – China’s second-largest automaker – the largest shareholder in Peugeot-Citroen. The deal has an estimated worth of 10 billion yuan ($1.63 billion).