Peugeot maker PSA Group said it is preparing to sell its 50% stake in an eight-y...
The announcement in Paris on Thursday came after Changan also signaled in regulatory filings earlier this month that it was seeking a buyer for its half of the Shenzhen-based venture known as CAPSA, which builds cars under PSA’s premium DS brand.
It also plans to cut jobs and drop two of the four assembly plants it shares in a larger join venture with China’s Dongfeng Group , which builds Peugeot and Citroen cars, Reuters reported in August. The partners planned to continue building DS-branded cars at the Shenzhen plant, a China-based PSA spokesman said on Friday.
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