GM: No Plans to Invest More in PSA

GM CEO Dan Akerson reiterates that General Motors Co. has no immediate plans for further investment in ailing alliance partner PSA Peugeot Citroen.

As part of the tie-up, GM paid €297 million ($397 million) for a 7% PSA stake in March 2012. The purchase was part of the French company's larger equity offering to raise money to fund new projects and bolster its balance sheet.

PSA denied a French newspaper report last month that the company is considering another stock sale because of a cash crunch. PSA posted a €5 billion ($6.7 billion) net loss last year.

Akerson notes that the two companies created their partnership to share purchasing costs and co-develop vehicles. GM and PSA agreed to conduct their restructuring of European operations independently, he says.