Premium car brands phasing out production

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Premium car brands phasing out production

Alarming news came from China: a premium French brand DS sells stake in joint venture.

According to Automotive News Europe, PSA Group and Chongqing Changan Automotive plans to sell its stake in a joint venture located in China. The details of the transaction were not disclosed.

From Changan holding 50% of the enterprise application to regulators was filed in early November. Today it became known that their share (50%) plans to get rid of and PSA. Partnership Changan and PSA has begun, we will remind, in 2011.

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Joint venture located in Shenzhen. The maximum capacity of factory to 200 thousand units per year. The volume of vehicle sales, released DS in a joint venture with Changan, made in 2018, about 3 900 units. For comparison, in 2014, the owners found 23 000 vehicles.

Representatives of the PSA was assured that the sale of the stake in the joint venture will not affect the presence of the DS brand in the Chinese market. The new strategic plan of the company will be announced in the coming weeks or months.

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