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Peugeot-Citroen consider selling stake to China

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Peugeot-Citroen consider selling stake to China

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PSA Peugeot Citroen is reportedly weighing up whether to sell a stake to Chinese firm, Dongfeng Motor Corp.

The French car maker is trying to raise some three billion euros in fresh capital as vehicle sales in Europe have dropped to a 20-year low.

The injection would provide Peugeot with much needed cash to push expansion plans beyond Europe after it recently announced it was axing 11,200 jobs in France and closing a factory outside Paris.