To restart activity motorbikes malaise point in the European market, PSA Peugeot Citroën group announced this Tuesday, Oct. 7 it intended to sell 51% of the subsidiary Peugeot Scooters to the Indian group Mahindra & amp; Mahindra.
An investment of 15 million euros
extraordinary works committee, PSA presented a “Plan recovery of activity “ which would be a partnership with the Indian conglomerate Mahindra & amp; Mahindra. The latter would invest 15 million euros and would acquire 51% stake in Peugeot Scooters , which employs 488 people on the French site Mandeure in the Doubs.
According to the PSA, 80 placed on leave for his older employees on a voluntary basis would be provided.
“A European market down sharply”
“ Faced with a European market down sharply for several years partnership with M & amp; M allow Peugeot Scooters diversify and accelerate its international development by combining its strengths with those of M & amp; M “explained PSA in its press release.
It remains to be seen whether the arrival of a new majority will suffice to revive profitability Peugeot Scooters on the Old Continent. As a reminder, the brand sold 180,000 motorcycles in 2000 against only 79,000 in 2013 , a very important part was produced in China.
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