The Citroen brand was sold to the Chinese for PLN 4.4 billion.  NEWS |

The Citroen brand was sold to the Chinese for PLN 4.4 billion. NEWS |

Here we have the second day of Christmas, but even in many countries of the Christian world it is not celebrated as earnestly as in Poland. The world is already working and – as you can see – closing several contracts. Was this expected? Today it was announced that Citroen has been sold to the Chinese for over one billion euros.

Many of our readers said so Citroën it is facing obsolescence, it is becoming a cheap brand that offers cars of poor quality and, moreover, in a style that is completely incompatible with European needs. On the other hand, Stellantis seemed to focus on the brand of the French legend on developing countries, especially in the regions of South America and southern Asia. And these – apart from Africa – are the places that the Chinese love.

Asians willingly invest in various ventures in seemingly obscure areas of the world. They have a lot of money, they have technology, but they lack only one thing – tradition. And this cannot be implemented. You can buy it for that. And when you find a seller with a popular brand in their portfolio, you can strike a deal.

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Unfortunately for us, this time the seller was Stellantis. Carlos Tavares quietly reached an agreement with long-time partner PSA Group, Dongfeng Concern, and he sold Citroën to the Chinese! This morning, during our time in Wuhan, an agreement was signed in which Citroën will belong to the Chinese – along with the rest of the country. know how French brand. Will the Asians revive the hydropneumatic suspension?

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Dongfeng Motors was founded 55 years ago. As you can easily guess, it is still a state-owned company, one of the largest companies in China in the automobile industry. Cooperation with the French began before Christmas 1990, when an agreement was signed in Paris for the production of cars based on French solutions in China. It was the so-called Project SAW-Citroën Sedan.

Two years later, in September 1992, the Fukang model based on the Citroën ZX was shown at the Xiangfan factory, then built under a joint venture between Citroën and Dongfeng. In 1995, Chinese-made versions were presented at the Shanghai Motor Show. The car was an amazing success in the Middle Kingdom.

What? did you know that the Citroen brand was born in Poland and the founder’s mother was from Warsaw? Click to read this amazing story

In November 2001, Dongfeng extended its partnership with Citroën to the entire PSA Group, also establishing a partnership with the Peugeot brand.

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About ten years ago, March 26, 2014, Dongfeng invested the same amount of EUR 800 million in the PSA Group. Many of our readers predicted a close takeover of the French and Chinese concerns. However, this did not happen.

In the same year, the DPCA company was founded, and two years later an agreement was signed between PSA and Dongfeng, in which the partners were to jointly develop the eCMP platform and electric drives for the models produced.

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At the beginning of autumn 2020, PSA bought 1.1% of its shares from Dongfeng, which was associated with the establishment of the Stellantis concern. One year later Dongfeng sold 1.15% of PSA Group shares. The Chinese then retained 4.5% of the shares of the French concern.

Unfortunately, one of the family silverware, actually gold, if not the platinum brand, has been slowly declining in recent years. Considering the various extraordinary measures that Carlos Tavares has made in recent months, sometimes criticizing the Asians, sometimes even allowing the Chinese to enter the European market (see plans to make a Chinese minivan at the Stellantis plant in Tychy), the worst has happened. Citroën is no longer French. Apart from an ad hoc cash injection, will Stellantis get anything out of selling Citroën to the Chinese?

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Speaking of cash. The value of the transaction is, of course, a secret, but known informed sources claim that by giving Citroën to the Chinese, Stellantis will receive the equivalent of 8 billion yuan. This is about PLN 4.4 billion and about EUR 1.028 billion. The price doesn’t seem too high…

35 years of Citroen XM – buy tickets for this incredible event now CLICK

Maybe this will be a good move for customers? Perhaps – as happened to many other legendary European brands after changing ownership to an Asian concern – the story of comfort will be revived. Maybe he will find wind in his sails and return to his roots? Maybe it will even bring back the hydropneumatic suspension? Let’s keep our fingers crossed for success. One thing is for sure – we will not stop writing about Citroën!

This is April Fool’s material. You can find corrections to this message here.

Krzysztof Gregorczyk; photo: Dongfeng Motors

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