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Peugeot and Ford to end some diesel cooperation

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04/05/2012 | 03:24pm CEST
An employee works in the assembly line at the PSA Peugeot Citroen plant in Poissy

PSA Peugeot Citroen (>> PEUGEOT) and Ford (>> Ford Motor Company) will phase out their cooperation in some diesel engines, the companies said on Thursday.

PSA Peugeot Citroen (>> PEUGEOT) and Ford (>> Ford Motor Company) will phase out their cooperation in some diesel engines, the companies said on Thursday.

"The two companies have decided to independently develop and manufacture their larger diesel engines," Paris-based Peugeot said in a joint statement with the U.S. car maker.

Announcing plans in February for a broad-based alliance with Ford's Detroit-based rival General Motors (>> General Motors Company), Peugeot had said the tie-up would not affect existing partnerships including joint diesel-engine production with Ford.

Peugeot and Ford will continue to cooperate on smaller diesels and a new generation of engines developed to meet new European emissions rules entering into force in 2014, the companies said.

(Reporting by Laurence Frost)

Stocks treated in this article : Ford Motor Company, General Motors Company, PEUGEOT
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Yield 2017 5,88%
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Technical analysis trends FORD MOTOR COMPANY
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Mean consensus HOLD
Number of Analysts 24
Average target price 11,9 $
Spread / Average Target -1,6%
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NameTitle
James P. Hackett President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Robert L. Shanks Chief Financial Officer & Executive Vice President
Jeff Lemmer Vice President & COO-Information Technology
Ken Washington Chief Technology Officer
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