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5/24/2017 6:00 PM
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  • These awards reassert the importance of supplier relations for the success of the Groupe PSA's strategic profitable growth plan – Push to Pass
  • 17 suppliers have been rewarded for their commitment and the quality of their responses to the requirements of Groupe PSA
  • 11 manufacturing plants have, for the third time, received the "Best Plant of the Year" award, which recognises our suppliers' industrial sites having achieved exceptional industrial performance levels
  • HONEYWELL was awarded the 2017 Special Prize of the Jury

         Click here to read the article

 

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5/16/2017 5:00 PM
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Groupe PSA, Direct Energie, Enel, Nuvve, Proxiserve and the Technical University of Denmark have launched the GridMotion project with the aim of evaluating possible savings achieved by real-life electric vehicle (EV) users through the implementation of smart charging and discharging strategies for EVs.
An electric driver’s electricity bill could be reduced, with no impact on transportation use, by shifting charging times from periods when electricity prices are higher to periods when electricity prices are lower. Even further savings could be achieved by providing grid balancing services through a Vehicle to Grid (V2G) system.


GridMotion partners have just combined their complementary expertise to launch a 2-year demo project. The project is intended to evaluate the savings EV users could achieve under real-life conditions with the implementation of smart charging and discharging1


The project will be carried out with two complementary types of users:
- 50 Peugeot iOn, Partner Electric, Citroën C-ZERO or Berlingo owners will test “smart” unidirectional charging, in line with their mobility needs, when electricity prices are generally lower, such as night-time in France;
- a fleet of 15 B2B EV Peugeot iOn or Citroën C-ZERO vehicles with Enel bidirectional charging stations testing “smart” charging and discharging (V2G services). This fleet will provide grid balancing services through short charging and discharging  cycles, again carried out in line with mobility needs. Charging is expected to be carried out when there is surplus electricity supply on the grid, while discharging is expected to be carried out when there is surplus electricity demand on the grid.


Project partners are looking for volunteers to start the experiment. Participants should be based in France and own a Peugeot or Citroën electric vehicle produced from January 2015 onwards.
The role of each partner is detailed below:
• Groupe PSA  is in charge of recruiting customers and managing the project;
• Direct Energie will act as an aggregator towards RTE2  and will make bids in the electricity and reserve markets by taking advantage of EV battery flexibility;
• Nuvve will be in charge of controlling the charging/discharging patterns of electric vehicles;
• Enel will provide the bidirectional charging stations and its expertise in smart grids;
• Proxiserve will install the B2C and B2B charging stations;
• DTU will provide academic support and testing systems.

Plug-in vehicle (PEV) sales grew by 42% between 2015 and 2016 worldwide3 . This growth, fostered by technological improvements, falling prices and increasing pressure on air pollution, is expected to accelerate in the coming years. The GridMotion project is seeking to demonstrate how PEVs harness demand response and ancillary services to have a beneficial impact on grid stability and user income.

 
Contact Information
If you are interested in joining the project, please contact us at: GridMotionProject@mpsa.com

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3/6/2017 10:00 AM
PSA Group and BNP Paribas announce a long-term strategic partnership in automotive finance around the joint acquisition of Opel / Vauxhall’s financing activities

As part of the broader alliance announced today between PSA Group and GM’s Opel subsidiary, PSA and BNP Paribas have agreed to jointly acquire Opel / Vauxhall’s captive financing activities and have entered into a long-term strategic partnership around the Opel and Vauxhall brands.


Banque PSA Finance and BNP Paribas Personal Finance will each acquire 50% of the share capital of Opel / Vauxhall’s financing activities for a total of €0.9 Bn, representing a multiple of 0.8x the combined pro-forma Book Value of €1.2 Bn at year-end 2016. As per this partnership agreement, BNP Paribas will fully consolidate the entity.
Opel / Vauxhall’s financing operations cover 11 European countries, serving nearly 1,800 dealers and have outstanding earning assets of ca. €9.6 Bn at year-end 2016, of which ca. €5.8 Bn are financed by deposits or securitizations. Opel / Vauxhall’s financing operations offer a full range of automotive financing products, including consumer loans, leases, dealer financing and insurance products, with a constant focus on optimizing customer experience.
The operations will benefit from combined Banque PSA Finance’s and BNP Paribas Personal Finance’s expertise in automotive financing to better serve Opel and Vauxhall’s dealers and customers and support Opel and Vauxhall development. The transaction will be financed from existing resources of PSA and BNP Paribas and will have an impact of close to 10 bps on BNP Paribas Common Equity Tier 1 Ratio.
Both Boards of Directors unanimously approved this partnership agreement.


The transaction is expected to close in the fourth quarter of 2017 and is subject to customary anti-trust and other regulatory approvals.

“Opel / Vauxhall’s financing operations are critical to the development of the Opel and Vauxhall brands. We are proud to join our forces with BNP Paribas, a leading European banking partner, and are confident our complementary expertise will make this new partnership a success.” Carlos Tavares, Chairman of the Managing Board, said.
“This partnership represents a great opportunity to further grow BNP Paribas Personal Finance’s footprint on the attractive automotive financing business and is fully in line with our strategic goals for 2020. We have been a longstanding banking partner of PSA Group and are delighted with this value-enhancing partnership around Opel / Vauxhall. We will capitalize on our highly complementary capabilities to best serve Opel and Vauxhall’s dealers and customers and support the Opel and Vauxhall brands.” stated Jean-Laurent Bonnafé, Chief Executive Officer of BNP Paribas.

“We are very pleased with this new venture and warmly welcome the employees of Opel / Vauxhall’s financing activities within our partnership,” declared Laurent David, CEO of BNP Paribas Personal Finance together with Remy Bayle, CEO of Banque PSA Finance.

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3/6/2017 10:00 AM
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• Establishes PSA Group as #2 in Europe. This strong and balanced presence in its home markets will serve as the basis of profitable growth worldwide
• Joint venture in auto financing with BNP Paribas to support development of Opel/Vauxhall brands
• €2.2 Bn transaction advances GM’s transformation and unlocks shareholder value through disciplined capital allocation

Detroit and Paris, 6 March 2017 – General Motors Co. (NYSE:GM) and PSA Group (Paris:UG) today announced an agreement under which GM’s Opel/Vauxhall subsidiary and GM Financial’s European operations will join the PSA Group in a transaction valuing these activities at €1.3 Bn and €0.9 Bn, respectively.

With the addition of Opel/Vauxhall, which generated revenue of €17.7 Bn in 2016 , PSA will become the second-largest automotive company in Europe, with a 17% market share .

Creates sound European foundation for PSA to support its worldwide profitable growth

“We are proud to join forces with Opel/Vauxhall and are deeply committed to continuing to develop this great company and accelerating its turnaround,” said Carlos Tavares, chairman of the Managing Board of PSA. “We respect all that Opel/Vauxhall’s talented people have achieved as well as the company’s fine brands and strong heritage. We intend to manage PSA and Opel/Vauxhall capitalizing on their respective brand identities. Having already created together winning products for the European market, we know that Opel/Vauxhall is the right partner. We see this as a natural extension of our relationship and are eager to take it to the next level.”

“We are confident that the Opel/Vauxhall turnaround will significantly accelerate with our support, while respecting the commitments made by GM to the Opel/Vauxhall employees,” continued Mr. Tavares.

Advances GM’s Transformation and Unlocks Value

“We are very pleased that together, GM, our valued colleagues at Opel/Vauxhall and PSA have created a new opportunity to enhance the long-term performance of our respective companies by building on the success of our prior alliance”, said Mary T. Barra, GM chairman and chief executive officer.

“For GM, this represents another major step in the ongoing work that is driving our improved performance and accelerating our momentum. We are reshaping our company and delivering consistent, record results for our owners through disciplined capital allocation to our higher-return investments in our core automotive business and in new technologies that are enabling us to lead the future of personal mobility.

“We believe this new chapter puts Opel and Vauxhall in an even stronger position for the long term and we look forward to our participation in the future success and strong value-creation potential of PSA through our economic interest and continued collaboration on current and exciting new projects,” Ms. Barra concluded.

Strengthens Each Company for the Long Term

The transaction will allow substantial economies of scale and synergies in purchasing, manufacturing and R&D. Annual synergies of €1.7 Bn are expected by 2026 – of which a significant part is expected to be delivered by 2020, accelerating Opel/Vauxhall’s turnaround. Leveraging the successful partnership with GM, PSA expects Opel/Vauxhall to reach a recurring operating margin  of 2% by 2020 and 6% by 2026, and to generate a positive operational free cash flow  by 2020.

PSA, together with BNP Paribas, will also acquire all of GM Financial’s European operations through a newly formed 50%/50% joint venture that will retain GM Financial’s current European platform and team. This joint venture will be fully consolidated by BNP Paribas and accounted under the equity method by PSA.

The transaction is another step in GM’s ongoing work to transform the company, which has delivered three years of record performance and a strong 2017 outlook, and returned significant capital to shareholders. It will strengthen GM’s core business, support its continued deployment of resources to higher-return opportunities including in advanced technologies driving the future, and unlock significant value for shareholders.

By immediately improving EBIT-adjusted, EBIT-adjusted margins and adjusted automotive free cash flow and de-risking the balance sheet, the transaction will enable GM to lower the cash balance requirement under its capital allocation framework by $2 Bn, which it intends to use to accelerate share repurchases, subject to market conditions.

GM will also participate in the future success of the combined entity through its ownership of warrants to purchase shares of PSA. GM and PSA also expect to collaborate in the further deployment of electrification technologies and existing supply agreements for Holden and certain Buick models will continue, and PSA may potentially source long-term supply of fuel cell systems from the GM/Honda joint venture.

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