Peugeot Looking at Other Areas for Cooperation with GM
By David Pearson
DOUVRIN, France--French automaker PSA Peugeot Citroen (UG.FR) Tuesday said it is looking at other potential areas for cooperation with its alliance partner General Motors Co. (GM), a week after they shelved a project to make a small vehicle platform.
"We didn't find the right win-win equation for our B segment platform project, and logically we have chosen to review it," Peugeot Chief Executive Philippe Varin said. "In a partnership like the one we have with GM, some projects are confirmed while others aren't."
"We have started discussions with GM to look at other areas for cooperation," he said at the inauguration of a new production line for low-emission turbocharged gasoline engines.
Mr. Varin confirmed that PSA expects to reduce its consumption of cash by at least half this year compared to last year's cash burn.
He said Peugeot is studying other potential industrial and commercial partnerships with other manufacturers but didn't mention PSA's Chinese partner Dongfeng Motor Group Co. Ltd (DNFGY) specifically.
Write to David Pearson at email@example.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires 10-29-130644ET Copyright (c) 2013 Dow Jones & Company, Inc.