Peugeot Opens Third Car Plant in China as Europe Sales Slide

PSA Peugeot Citroen, the unprofitable French automaker, opened a third assembly plant in China, expanding in the world’s largest vehicle market even as a slump in European demand prompts it to cut jobs at home.

Chief Executive Officer Philippe Varin, who flew in for the opening ceremony in Wuhan, central China, said the plant will help the company capture 5 percent of the nation’s market by