Dongfeng Company and PSA Group Release Strategic Alliance Results – State-owned Assets Supervision and Administration Commission of the State Council

On April 19, Dongfeng Company and Peugeot Citroen Group (hereinafter referred to as "PSA Group") jointly released the work results of the global strategic alliance and the next stage of cooperation plan in Shanghai, and signed two cooperation agreements on the spot, "Joint Development and Sharing of Modular Platform" and "Joint Construction of New R & D Center", to start a new development process of Dongfeng-PSA Global Strategic Alliance Life Community.

It is reported that over the past year, the strategic alliance between Dongfeng and PSA has achieved fruitful results: 6 cross-company collaborative project teams, including shared modular platform, electric vehicle, assembly strategic planning, South East Asia strategic planning, global procurement, Shenlong company’s export to the Middle East and Africa, as well as 3 cross-company communication project teams, including information system and process management, human resource planning, and public relations communication; the collaborative project has been substantially promoted, and the PSA Group’s imported car business and the newly established Dongfeng Peugeot Citroen Automobile International Company have been brought into the management of Shenlong Company. The two sides have also opened a collaborative channel for manufacturing resources such as production capacity and powertrain, promoting the launch of the first strategic model Dongfeng Fengshen L60; Dongfeng and PSA Group have achieved win-win development Dongfeng Group’s operating efficiency and quality have been better improved, PSA Group’s "Towards Renaissance" plan is progressing well, and the annual production and sales scale of Shenlong Company, a joint venture entity between the two parties, has successfully exceeded 700,000 vehicles.