Editing PSA Group (section)

==History==
=== Citroën acquisition ===
In December 1974, Peugeot S.A. acquired a 38.2% share of Citroën. On 9 April 1976<ref>{{Cite web|url=https://news.google.com/newspapers?id=MZxAAAAAIBAJ&sjid=GKUMAAAAIBAJ&pg=6208,1716150&dq=citroen&hl=en|title = The Glasgow Herald - Google News Archive Search}}</ref> they increased their stake of the then bankrupt company to 89.95%, thus creating the ''PSA Group'' (where PSA is short for Peugeot [[S.A. (corporation)|Société Anonyme]]), becoming PSA Peugeot Citroën.<ref>[https://web.archive.org/web/20110606030140/http://ar2010.psa-peugeot-citroen.com/interactive-doc/200years/ ''Peugeot Motion and Emotion'', Corporate interactive history, Undated]. Retrieved: 9 April 2012.</ref> Since Citroën had two successful new designs in the market at this time (the [[Citroën GS|GS]] and [[Citroën CX|CX]]) and [[Peugeot]] was typically prudent in its own finances, the PSA venture was a financial success from 1976 to 1979.

=== Chrysler Europe acquisition ===
[[File:PSA Peugeot Citroën.svg|thumb|250px|PSA logo 1991–2016]]
In late 1978, PSA purchased the failing [[Chrysler Europe]] (which had been [[Rootes Group|Rootes]] and [[Simca]]) from the troubled US parent firm for a nominal £0.76, plus assumption of outstanding debt, leading to losses for the consortium from 1980 to 1985.<ref name="rootes-PSA">{{cite web|url=http://www.rootes-chrysler.co.uk/car-development/dev-180.html|title=Development of the Simca 180 cars|work=Rootes-Chrysler.co.uk|access-date=11 June 2006}}</ref> Further investment was required because PSA decided to create a new brand for the entity for the disparate French and British models, based on the [[Talbot (automobile)|Talbot]] sports car last seen in the 1950s. From then on, the whole Chrysler/Simca range was sold under the Talbot badge until production of Talbot-branded passenger cars was shelved in 1987 and on commercial vehicles in 1992.<ref>{{cite web|url=http://www.aronline.co.uk/index.htm?c2storyf.htm|archive-url=https://archive.today/20120718070434/http://www.aronline.co.uk/index.htm?c2storyf.htm|url-status=dead|archive-date=18 July 2012|title=Austin Rover Online|publisher=Aronline.co.uk|access-date=2 May 2011}}</ref>

All of this investment caused serious financial problems for the entire PSA group; PSA lost money from 1980 to 1985. There were some bright spots, however: mainly thanks to the success of the [[Peugeot 205]] and in spite of Talbot sales withering away, PSA surpassed Renault in sales in the domestic French market for the first time in 1983.<ref name=AGp110>{{cite magazine | ref = AG140 | magazine = De AutoGids | number = 140 | volume = 6 | page = 110 | title = De Franse markt met 13% naar beneden | trans-title = The French market drops by 13 percent | first = Henry | last = Tourneur | language = nl-be | date = 1985-02-07 | publisher = Uitgeverij Auto-Magazine | location = Brussels, Belgium }}</ref> In 1987, the company dropped the Talbot brand for passenger cars when it ceased production of the Simca-developed Horizon; the Samba and Alpine/Solara had been discontinued a year earlier. What was to have been the Talbot Arizona became the [[Peugeot 309]], with the former Rootes plant in [[Ryton-on-Dunsmore|Ryton]] and [[Stellantis Poissy Plant|Simca plant]] in [[Poissy]] being turned over for Peugeot assembly from October 1985. Producing Peugeots in Ryton was significant, as it signaled the first time that PSA would build cars in the UK (car assembly at Ryton stopped in 2006 and the plant was closed). The Talbot name survived for a little longer on commercial vehicles until 1992 before being shelved completely. From 1987 to 1995, the Ryton plant also produced the [[Peugeot 405]] saloon.

=== Financial crisis, alliance with General Motors (2012–2014) ===
[[File:Philippe Varin 5.JPG|thumb|200px|PSA Peugeot Citroen CEO, Philippe Varin, in 2013]]
On 29 February 2012, PSA announced the creation of a major alliance with [[General Motors]] (GM), as part of which GM became PSA's second-largest shareholder, after the Peugeot family, with a holding of 7%. The alliance was intended to enable £1.5&nbsp;billion per year of cost savings through platform sharing, common purchasing and other economies of scale.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-17213021|title=GM and Peugeot announce alliance|access-date=29 February 2012|work=BBC News|date=29 February 2012}}</ref>

In July 2012, a union official said that PSA Peugeot Citroën would cut as much as 10 percent (8,000-10,000) of its French workforce of 100,356 employees on permanent and temporary contract. The jobs cut was more than previously announced.<ref name=PSA>{{cite news|title=July 3, 2012 - Peugeot to Raise French Workforce Cuts to 10,000, Union Says|url=https://www.bloomberg.com/news/2012-07-02/peugeot-may-lift-job-cuts-target-to-10-000-positions-union-says.html| work=Bloomberg| first=Mathieu|last=Rosemain|date=3 July 2012}}</ref><ref>{{cite web|url=http://www.inautonews.com/peugeot-citroen-may-cut-5000-jobs-in-europe|title=Peugeot Citroën may cut 5000 jobs in Europe|access-date=26 October 2011|archive-url=https://web.archive.org/web/20120403091018/http://www.inautonews.com/peugeot-citroen-may-cut-5000-jobs-in-europe|archive-date=3 April 2012|url-status=dead|df=dmy-all}}</ref>

On 24 October, PSA said it was close to an agreement with creditor banks on €11.5&nbsp;billion (£11.3&nbsp;billion) of refinancing and had won state guarantees on €7&nbsp;billion in further borrowing by its Banque PSA Finance.<ref>{{cite news|url=https://www.reuters.com/article/us-peugeot-sales-idUSBRE89N09F20121024|title=Peugeot gets government rescue as crisis deepens|date=24 October 2012|work= Reuters }}</ref>

On 12 December 2013, General Motors announced it was selling its 7% stake in PSA Peugeot Citroën to Padmapriya Automobile Investment Group.<ref>{{Cite web|date=14 December 2013|title=Peugeot Plunges After GM Sells Entire 7% Holding|url=https://www.bloomberg.com/news/articles/2013-12-12/gm-announces-its-selling-off-entire-7-stake-in-peugeot-citroen|access-date=29 December 2020|website=bloomberg}}</ref><ref>{{Cite web|last=Moss|first=Darren|date=13 December 2013|title=GM sells stake in PSA Peugeot Citroen|url=https://www.autocar.co.uk/car-news/industry/gm-sells-stake-psa-peugeot-citroen|access-date=29 December 2020|website=Autocar}}</ref>

In 2014, [[Dongfeng Motor Group]], the Chinese partner that builds PSA cars in China, and the French government each took a 13% stake in PSA, in a financial rescue operation, reducing the Peugeot family share from 25% to 14%.<ref>{{cite web|url=https://www.bbc.com/news/business-26243593|title=Peugeot signs rescue deal with China's Dongfeng Motor|date=19 February 2014|access-date=21 February 2016|publisher=BBC}}</ref>

=== Rapid expansion ===
{{More citations needed section|date=March 2017}}

Following Dongfeng and the French government each acquiring stakes in Groupe PSA, various cost-cutting measures at the company turned its fortune around and gradually reduced PSA's debt, until the company began to turn a profit beginning in 2015. A new CEO, [[Carlos Tavares]], was engaged and began to implement various cost-cutting measures and expanded the model range of all three core brands, alongside the creation of a new brand, [[DS Automobiles]].

In early 2016, PSA unveiled a roadmap detailing its plan to re-enter the North American car market for the first time since 1991.<ref>{{cite web |last1=Zhang |first1=Benjamin |title=Zipcar is about to face an unlikely new competitor |url=https://www.businessinsider.com/france-peugeot-citroen-unexpected-comeback-us-2016-4 |website=Business Insider |access-date=25 March 2019 |date=6 April 2016}}</ref> 

==== Acquisition of 'Ambassador' brand from Hindustan Motors ====
On 10 February 2017, PSA announced a 50:50 joint venture with the [[CK Birla Group]], the owner of the [[Hindustan Motors]] to sell Peugeot, Citroën, and DS vehicles in [[India]] and purchase of the [[Hindustan Ambassador|Ambassador]] brand from [[Hindustan Motors]] at the cost of [[Indian rupee|₹]]80 [[Crore]] (€11<ref>{{cite news |title=Hindustan Motors sells iconic Ambassador brand to Peugeot-Citroën |url=https://www.autocarindia.com/car-news/hindustan-motors-sells-iconic-ambassador-brand-to-peugeot-citro235n-404186 |work=Autocar India |date=11 February 2017}}</ref> million).<ref>{{cite web |last1=Shah |first1=Ronak |title=Iconic Ambassador car to make a come back in India: Here's all you need to know |url=https://www.financialexpress.com/auto/car-news/republic-day-2018-iconic-ambassador-car-to-make-a-come-back-in-india-heres-all-you-need-to-know/1030389/ |website=The Financial Express |access-date=21 March 2019 |date=26 January 2018}}</ref>

==== Acquisition of Opel and Vauxhall Motors ====
On 14 February 2017 PSA announced that it was in talks to acquire [[Opel]] and [[Vauxhall Motors]] from [[General Motors]]. The talks were in an advanced stage, but were a surprise to the press and to much of Opel's leadership as they had plans to transform the company into an electric-car-only brand using the platform of the [[Opel Ampera-e]] for a wide range of models. GM agreed to continue to supply PSA with Ampera-e and other [[electric vehicle]] technology.<ref>{{cite web|url=http://www.auto-motor-und-sport.de/news/karl-thomas-neumann-im-interview-die-zukunft-von-opel-3229525.html |title=Karl-Thomas Neumann im Interview: Die Zukunft von Opel - auto motor und sport |publisher=Auto-motor-und-sport.de |date=2017-03-15 |access-date=2019-11-02}}</ref><ref>{{cite web |url=http://www.autoguide.com/auto-news/2017/03/gm-officially-sells-opel-to-france-s-psa-group.html |title=GM Officially Sells Opel to France's PSA Group in €2.2-Billion Deal |first=Michael |last=Accardi |date=6 March 2017 |website=www.autoguide.com |access-date=13 August 2021}}</ref><ref name="www.vindobona.org">{{cite web |title=Opel-PSA Group Plans Job Cuts in Vienna |url=https://www.vindobona.org/article/opel-psa-group-plans-job-cuts-in-vienna |website=Vindobona |access-date=25 March 2019 |date=6 April 2018}}</ref> In August 2017, PSA completed the acquisition deal of Opel and Vauxhall.<ref>{{cite web |url=https://www.autocar.co.uk/car-news/industry/vauxhall-PSA-Group-takeover |title=PSA Group purchase of Opel and Vauxhall completed with new financial company |website=www.autocar.co.uk |date=August 1, 2017 |accessdate=August 29, 2019 }}</ref>

GM reported a loss of £195.1 million from its European operations in 2016, sixteenth consecutive loss-making year for GM in Europe, bringing its amount of losses on the continent since 2000 to more than £11.4&nbsp;billion.<ref>{{cite news |url=https://www.bbc.com/news/business-38969791 |title=Peugeot in talks to buy GM's Vauxhall and Opel business |access-date=14 February 2017 |work=BBC News |date=14 February 2017}}</ref> Some expressed concerns about what this major acquisition might do to PSA's bottom line. However, due to this amount of debt, it is likely that GM may give the brands to PSA, or sell Opel and Vauxhall at a highly reduced price. Tavares expects [[Synergy|synergies]] a decade after the takeover.<ref>{{cite web |url=http://automotivelogistics.media/intelligence/groupe-psa-report-part-1-refait-neuf |archive-url=https://web.archive.org/web/20170403221643/http://automotivelogistics.media/intelligence/groupe-psa-report-part-1-refait-neuf |url-status=dead |archive-date=3 April 2017 |title=Groupe PSA special report: Refait à neuf |author=Christopher Ludwig |date=31 March 2017 |publisher=Automotive Logistics |access-date=6 April 2017 }}</ref><ref name="www.vindobona.org"/>

PSA CEO Carlos Tavares met with German Chancellor Angela Merkel and British Prime Minister Theresa May at separate meetings where he toured some of Opel and Vauxhall's operations in Germany and the UK, respectively.<ref name="www.vindobona.org"/> He assured the leaders that jobs would be safeguarded and that [[Vauxhall Ellesmere Port|Vauxhall's Ellesmere Port plant]] was to be used by PSA at least until 2021.<ref name="www.vindobona.org"/>

Tavares announced that he wants Opel to keep its German brand identity and to embrace it, and that he would leverage Opel's pedigree of German engineering and Motorsport and use the company's heritage to reach markets and customers that may not consider a French car due to perceived reliability issues.<ref name="www.vindobona.org"/> He also announced that the Opel and Vauxhall brands would be elevated to new heights within Groupe PSA, including the sale of Opel and Vauxhall-branded vehicles outside Europe for the first time in many decades.<ref name="www.vindobona.org"/>

==== Bid for Proton ====
On 17 February 2017, PSA announced its bid to acquire [[PROTON Holdings]], which owns the Proton and [[Lotus Cars|Lotus]] brands, but lost out to [[Geely]] a few months later.<ref>{{cite news |last1=Ganeshwaran Kana |title=Geely acquires Proton stake for RM460mil |url=https://www.thestar.com.my/news/nation/2017/06/24/geely-acquires-stake-for-rm460mil-strategic-partnership-with-china-firm-will-turn-proton-around-says/ |access-date=8 October 2018 |work=The Star newspaper (Malaysia) |date=24 June 2017}}</ref>

=== Merger with FCA ===
In May 2019 [[Fiat Chrysler Automobiles]] (FCA) announced its intention to seek a merger with [[Renault|Groupe Renault]]. However, in early June merger talks were suspended, and never resumed.<ref>{{Cite news|url=https://www.businessinsider.com/fiat-chrysler-renault-merger-why-it-failed-analysis-background-2019-6|title=French politics killed the Fiat Chrysler-Renault merger|last=DeBord|first=Matthew|date=2019-06-06|work=Business Insider}}</ref> On 31 October 2019, Groupe PSA announced intent to merge with FCA. The merger would be on a 50-50 all stock basis. On 18 December 2019, FCA and PSA announced that they had agreed to the terms of a binding £38 billion merger,<ref name="auto" /> expected to be implemented in the next 12 months. The new group is incorporated in the Netherlands and has [[John Elkann]] as Chairman of the Board and Carlos Tavares as CEO.<ref>{{cite web|url=https://www.cnn.com/2019/12/18/business/fiat-chrysler-peugeot/index.html|title=Fiat Chrysler and Peugeot owner agree deal to create world's third largest automaker|publisher=CNN|author=Charles Riley|date=18 December 2019|access-date=18 December 2019}}</ref> On 15 July 2020, the two companies announced that the merged entity will be named [[Stellantis]], from the "Latin verb 'stello' meaning 'to brighten with stars.'"<ref>{{cite press release |author=<!--Staff writer(s); no by-line.--> |title=STELLANTIS: The name of the new group resulting from the merger of FCA and Groupe PSA |url=https://www.fcagroup.com/en-US/media_center/fca_press_release/FiatDocuments/2020/july/Stellantis_The_name_of_new_group_resulting_from_the_merger_of_FCA_and_Groupe_PSA.pdf |location=Vélizy-Villacoublay and London |publisher=FCA and Groupe PSA |date=2020-07-15 |access-date=2020-07-15}}</ref> On 4 January 2021, both shareholders of PSA and FCA approved the merger and the deal was closed on 16 January 2021.<ref>{{Cite web|title=Fiat Chrysler and Peugeot shareholders vote to merge, creating world's fourth-largest car maker|url=https://www.nbcnews.com/business/autos/peugeot-shareholders-vote-merge-fiat-chrysler-creating-world-s-fourth-n1252712|access-date=2021-01-04|website=NBC News|date=4 January 2021 |language=en}}</ref><ref>{{Cite web|title=Stellantis merger to close on Jan. 16 after PSA, FCA shareholders approve|url=https://www.detroitnews.com/story/business/autos/chrysler/2021/01/04/groupe-psa-fiat-chrysler-shareholders-vote-stellantis-merger/4102655001/|access-date=2021-01-05|last=Noble|first=Breana|website=The Detroit News|language=en}}</ref><ref>{{cite web|title=The merger of FCA and Groupe PSA has been completed|url=https://www.fcagroup.com/en-US/media_center/fca_press_release/FiatDocuments/2021/January/The_merger_of_FCA_and_Groupe_PSA_has_been_completed.pdf|access-date=2021-01-16|language=en}}</ref>