Standard News

Hide Advertisement
  • Business
  • Culture
  • News
  • Technology
  • Trending
Site logo
ADVERTISEMENT
ADVERTISEMENT

Peugeot plans LA car-sharing operation with Bollore: CEO

By Reuters 1 min read
Carlos Tavares, CEO of French carmaker PSA Peugeot Citroen, attends a news conference to comment the company's 2015 annual results at Peugeot headquarters in Paris

PARIS (Reuters) – France’s PSA will launch car-sharing services in Los Angeles in partnership with Bollore Group, Chief Executive Carlos Tavares said on Monday, as the maker of Peugeot, Citroen and DS cars diversifies into mobility services.

“We’re working with a good number of cities, including LA, to offer car-sharing solutions with Bollore Group,” Tavares said at a seminar organized by business daily Les Echos, adding that the company had “other discussions in progress”.

Advertisement

Rattled by Uber’s [UBER.UL] success, carmakers from General Motors to Daimler are rolling out their own ride-sharing services – while sometimes struggling to explain how they could supplant their traditional manufacturing business if consumers were to abandon ownership in droves.

Paris-based PSA is investing in start-ups and expanding in areas ranging from vehicle leasing to parts distribution as it pursues a recovery plan in the wake of a brush with bankruptcy that led to Tavares’s 2014 appointment.

The following year, PSA announced a partnership with Bollore, which already supplies electric car-sharing services in Paris and other cities and had previously flagged Los Angeles as a potential location.

Tavares also said PSA aimed to generate 300 million euros ($337 million) in revenue from its new mobility services division by 2021, a goal he acknowledged was challenging yet “absolutely marginal” for a car manufacturer with more than 50 billion euros in annual sales.

(Reporting by Laurence Frost and Gilles Guillaume; Editing by David Goodman and Hugh Lawson)

tagreuters.com2016binary_LYNXNPEC8B18X-VIEWIMAGE

Advertisement - Continue reading below

Actor Idris Elba makes surprise appearance before Star Trek release
Entertainment
Reuters 2 min read

Actor Idris Elba makes surprise appearance before Star Trek release

Ex-drug executive Shkreli hid control of shares, U.S. says
News
Reuters 2 min read

Ex-drug executive Shkreli hid control of shares, U.S. says

Clinton offers plan to freeze some college debt, cut tuition
News
Reuters 2 min read

Clinton offers plan to freeze some college debt, cut tuition

Mom Claims Her Son Was Kicked Out of Cub Scouts Pack for Asking About Gun Control
Culture
Brian Delpozo 4 min read

Mom Claims Her Son Was Kicked Out of Cub Scouts Pack for Asking About Gun Control

Details of sinking of El Faro cargo ship emerge from U.S. probe
News
Reuters 2 min read

Details of sinking of El Faro cargo ship emerge from U.S. probe

Homeless teen charged with murdering University of Texas student
News
Reuters 1 min read

Homeless teen charged with murdering University of Texas student

Medical records search warrant carried out in Prince case
Entertainment
Reuters 2 min read

Medical records search warrant carried out in Prince case

U.S. judge dismisses lawsuit against Twitter over Islamic State rhetoric
News
Reuters 2 min read

U.S. judge dismisses lawsuit against Twitter over Islamic State rhetoric

Terrorist Kills 59, Injures 527 in Worst Mass Shooting in Modern U.S. History
News
Jason Owen 1 min read

Terrorist Kills 59, Injures 527 in Worst Mass Shooting in Modern U.S. History

Some evacuation orders lifted in California wildfires
News
Reuters 2 min read

Some evacuation orders lifted in California wildfires

load more Loading posts...

sidebar

ADVERTISEMENT
ADVERTISEMENT

sidebar-alt

  • About Us
  • Imprint
  • Contact Us
  • Terms of Service
  • Privacy Policy