Deals
Peugeot Plans Model Makeover With $7.26 Billion in Funds
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Carlos Tavares, PSA Peugeot Citroen’s incoming chief executive officer, laid out plans to use 5.27 billion euros ($7.26 billion) in funds from investors to overhaul the automaker’s lineup.
Tavares, a former Renault SA executive who takes over as CEO next month, said today that the French manufacturer, which has fallen behind competitors in spending on new technology, needs to increase research and development funding and focus model offerings on the most profitable vehicles.