
PSA Group
Manufacturer of automobiles and motorcycles.
Date | Investors | Amount | Round |
---|---|---|---|
- | N/A | - | |
Total Funding | 000k |
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The roots of PSA Group trace back to the early 19th century when Jean-Pierre and Jean-Frédéric Peugeot founded the Peugeot family business in 1810. Originally, the company was involved in manufacturing steel strips, saws, and springs for watchmaking. Over time, the Peugeot family diversified into bicycles and eventually automobiles, marking the beginning of their journey in the automotive industry.
In 1974, a significant turning point occurred when Peugeot S.A. acquired a 38.2% share of Citroën, a company that was then facing financial difficulties. By 1976, Peugeot increased its stake to 89.95%, effectively merging the two companies and forming the PSA Group, known as PSA Peugeot Citroën. This merger was a strategic move to consolidate resources and expertise, allowing the newly formed group to strengthen its position in the global automotive market.
PSA Group continued to expand its reach and capabilities over the years. In 2017, the company made headlines with its acquisition of Opel and Vauxhall from General Motors for €2.2 billion. This acquisition was a bold step towards increasing PSA's market share in Europe and enhancing its competitive edge.
In a landmark event in 2021, PSA Group merged with Fiat Chrysler Automobiles to form Stellantis, one of the world's largest automakers. This merger was driven by the need to pool resources for innovation, particularly in electric and autonomous vehicles, and to achieve greater economies of scale.
Today, PSA Group, as part of Stellantis, continues to be a major player in the automotive industry, leveraging its rich heritage and innovative spirit to navigate the challenges and opportunities of the modern automotive landscape.
Investments by PSA Group
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