PSA’s Alliances with Other Carmakers to Continue

PSA Peugeot Citroen CEO Carlos Tavares says the company will continue current alliances with other carmakers as it implements its "back in the race" turnaround plan.

PSA co-produces some 2.3 million diesel engines annually with Ford and builds a combined 1.3 million cars and vans per year with Ford, Fiat and General Motors. A decision on the company's partnership with BMW to make gasoline engines will come by year-end.

Tavares says PSA's joint vehicle production programs save the company about €100 million per year.

PSA and its new 12% owner Dongfeng Motor Group aim to hike PSA vehicle sales in China from 557,000 units last year to 970,000 by 2016 and 1.2 million by 2018.