Dongfeng Motor

Peugeot family approves Dongfeng share deal

Peugeot and Dongfeng have a joint venture that makes cars in China. Photo: Reuters

PSA Peugeot Citroen’s founding family gave the go-ahead on Monday for a 3 billion euro (HK$31.9 billion) tie-up with China’s Dongfeng Motor that would draw a line under one of France’s oldest industrial dynasties, sources said.

Tuesday, 18 February, 2014, 10:34am

Dongfeng Motor requests trading halt as French and Peugeot officials due in China

Dongfeng and Peugeot already have a joint venture in China. Photo: Reuters

China’s Dongfeng Motor Group, which is in talks to buy a stake in French carmaker PSA Peugeot Citroen, asked on Monday for a trading halt pending an announcement concerning “inside information”.

Dongfeng, which already has a joint venture with Peugeot in China, did not give further details, and company spokesman Zhou Mi said he was not aware of the reason behind the suspension.

10 Feb 2014 - 2:45pm

Peugeot board okays capital injections by French state and China's Dongfeng Motor

A Dongfeng-Peugeot joint venture builds the French carmaker's models in China. Photo: AFP

The board of struggling French carmaker PSA Peugeot Citroen has in principle approved capital boosts by the French state and its Chinese partner Dongfeng Motor, two people close to the matter said on Sunday.

The investors will inject a total of 3 billion euros (HK$31.4 billion) into the company under terms yet to be defined, one of the sources said after a meeting of Peugeot’s board.

20 Jan 2014 - 3:08pm

Renault-Dongfeng joint venture gets green light from Beijing

State-owned Dongfeng is China's second-largest vehicle manufacturer by volume. Photo: Reuters

Beijing has approved a long-awaited US$1.3 billion joint venture between French carmaker Renault and Chinese giant Dongfeng Motor, the Chinese firm said in a statement on Thursday.

Each partner will have a 50 per cent share in the new company, Dongfeng said. It said the government had approved the deal and “the production of 150,000 multiple-purpose vehicles and engines per year”.

5 Dec 2013 - 11:40am

Dongfeng, Renault to set up US$1.8b joint venture

Dongfeng had previously been reportedly in talks to buy a stake in PSA Peugeot Citroen. Photo: AFP

Ambitious Chinese carmaker Dongfeng Motor and France’s Renault may sign a deal this month for an 11 billion yuan (HK$13.8 billion) joint venture after a decade of talks, a report said on Monday.

8 Jul 2013 - 11:54pm