PARIS (Reuters) – French carmaker PSA Group (PEUP.PA) has begun to suspend its joint venture activities in Iran to avoid U.S. sanctions after Washington’s withdrawal from the international nuclear deal. FILE PHOTO: The Peugeot logo is pictured on the new Peugeot 508 before a news conference of PSA Group to announce the company’s 2017 annual… Continue reading France’s PSA suspends joint ventures in Iran to avoid US sanctions
Tag: PSA
France’s PSA begins to suspend its joint ventures in Iran
PARIS, June 4 (Reuters) – PSA Group has begun to suspend its joint venture activities in Iran, the French carmaker said on Monday, following the withdrawal of the United States from a nuclear pact signed with the country. European signatories are scrambling to save the accord, which they see as crucial to forestalling an Iranian… Continue reading France’s PSA begins to suspend its joint ventures in Iran
Groupe PSA Position on Its Activities in Iran
RUEIL-MALMAISON, France–(BUSINESS WIRE)–Regulatory News: After signature of the JCPOA1 on July 14th, 2015 and the lifting of international sanctions against Iran on January 16th, 2016, Groupe PSA (Paris:UG) signed joint venture agreements with Iran Khodro on June 21th, 2016 and Saipa on October 6th, 2016. The purpose of these JVs, which are fully compliant with… Continue reading Groupe PSA Position on Its Activities in Iran
Lotus boss leaves as new owner Geely promotes from within
Lotus’s boss has left the sports car manufacturer less than a year after it was acquired by Chinese automotive giant Geely. Jean-Marc Gales was brought in to the Norfolk-based company in 2014 with a remit to get it back on track after an ambitious expansion plan under former Ferrari marketing chief boss Dany Bahar failed.… Continue reading Lotus boss leaves as new owner Geely promotes from within
German car sales plunge in May as diesel falls out of favour
BERLIN: Sales of new cars in Germany plunged in May, official figures showed Monday, dragged lower by public holidays and mounting uncertainty about the future of scandal-plagued diesel. A total of 305,057 new cars hit German roads last month, the KBA federal vehicle licensing authority said, a drop of 5.8 per cent year-on-year.Of those, just… Continue reading German car sales plunge in May as diesel falls out of favour
Volume still low but JLR sticks with Brazil assembly plant
A Range Rover Evoque poses in front of its Brazilian assembly plant Despite production volumes way short of expectations, Jaguar Land Rover has no plans to close its Brazilian assembly plant, a top executive has said. JLR opened the Brazilian plant in 2016 in the village of Itatiaia, 280km (175 miles) northwest of Rio de… Continue reading Volume still low but JLR sticks with Brazil assembly plant
Geely paints the future of mobility
Car designers, artists and journalists met in Paris a few days ago at an event organised by Geely, to share their visions of future mobility. On a rooftop terrace, a series of works of art were presented, all created to explore the theme of what mobility will look like in the year 2100. Geely’s Peter Horbury, Brandon… Continue reading Geely paints the future of mobility
Exclusive: Lotus boss Jean-Marc Gales departs car maker
Jean-Marc Gales has abruptly left his position as CEO of Group Lotus plc, the Norfolk-based sports car maker and technology consultancy acquired last year by China’s Geely group, which also owns Volvo, Lynk&Co, Proton and LEVC. Gales told Autocar that he was leaving for “personal reasons” and that it was “time to move on”. He departs his job today and described it as… Continue reading Exclusive: Lotus boss Jean-Marc Gales departs car maker
It’s Trump Against the World in Any Trade War
LISTEN TO ARTICLE SHARE THIS ARTICLE Want to receive this post in your inbox every morning? Sign up for the Balance of Power newsletter, and follow Bloomberg Politics on Twitter and Facebook for more. Time is slipping away to avoid a full-blown trade war. U.S. President Donald Trump heads to Quebec this week for a Group of Seven summit, where he’ll meet the leaders… Continue reading It’s Trump Against the World in Any Trade War
Automotive: software accused of inflating prices of spare parts
Several carmakers, including Renault, PSA and Jaguar Land Rover, have inflated more than a billion dollars (about 850 million euros) in ten years the turnover they perform on spare parts through software, according to court documents. This software, marketed by Accenture , identifies the parts that consumers think are more expensive than they actually are.… Continue reading Automotive: software accused of inflating prices of spare parts