PSA Group founded by Peugeot
History
Citroën acquisition
In December 1974, Peugeot S.A. acquired a 38.2% share of Citroën. On 9 April 1976 they increased their stake of the then bankrupt company to 89.95%, thus creating the PSA Group (where PSA is short for Peugeot Société Anonyme), becoming PSA Peugeot Citroën. Since Citroën had two successful new designs in the market at this time (the GS and CX) and Peugeot was typically prudent in its own finances, the PSA venture was a financial success from 1976 to 1979.PSA PowerTrain (formerly Peugeot Citroën Moteurs)
PSA PowerTrain is a manufacturer of petrol and diesel engines for a range of companies including BMW, Ford, Jaguar, and Land Rover. It was founded by Peugeot in 1898 in Lille and later named Compagnie Lilloise de Moteurs (CLM). In 1992 SCM-CLM as it was then known became Peugeot Citroën Moteurs.The company has had a partnership with Ford Motor Company since 1998.PSA and BMW have an agreement to develop the 1.6 Prince engine. PSA also sells their engines, gearboxes and other parts to small independent manufacturers such as De La Chapelle and PGO. This PSA Peugeot Citroën 1.6-litre turbo petrol engine has received the International Engine of the Year awards a total of eight times, from 2007 to 2014.
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