Peugeot loses USD3.2b, plans Asia expansion| MENAFN.COM

Tuesday, 28 June 2022 12:52 GMT

Peugeot loses USD3.2b, plans Asia expansion


(MENAFN) PSA Peugeot Citroen posted a loss of USD3.2 billion and is planning to expand in Asia in a rescue deal, The Peninsula Qatar reported



The French group will build new cars and expand in Asia as a rescue deal with China's Dongfeng has been signed



ISI Group analyst said: "The improving situation in Europe is starting to affect the company," adding that company's improved performance in the second half of 2013 was surprising



Dongfeng Motor Group and the French state will pay USD1.1 billion each for 14 percent of the carmaker to match the founding Peugeot family's reduced holding


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