Most MINI fans are well aware that BMW Group and PSA partnered on the Prince family of engines found in the current R5X generation of MINIs. BMW did the engineering and handles the manufacturing, and PSA ponied up some development dollars and helps with supply chain logistics. In return, PSA got access to the engines [...] (visit MotoringFile for the full article) More...
With PSA on the verg of insolvency and a possible bailout...no big surprise here!! Just like GM, the only thing keeping PSA aflot is their finance arm....
PSA is in dire straits... Ford Motor Co. and Renault have joined key Volkswagen stakeholder, Lower Saxony, in voicing concern about a French government rescue deal for PSA/Peugeot-Citroen. Rival automakers are worried that a 7 billion euro ($9.1 billion) French government loan guarantee for PSA's struggling car-loans division will give the automaker an unfair advantage in Europe's slumping car market. Read more: http://www.autonews.com/article/20121026/ANE/121029932#ixzz2APxKXjJN