Automobiles Talbot France
Automobiles Talbot France manufactured cars in Suresnes, near Paris, France. The enterprise was founded by Alexandre Darracq in February 1897. In 1902 he sold it into British control; the company first known as Automobiles Darracq S. A. was formed in 1916 by London company A Company Limited. When the parent company having bought London's Clément-Talbot became S T D Motors Limited in 1920 this Suresnes business was renamed Automobiles Talbot and after a transition period the Suresnes products were branded just Talbot. Antonio Lago, the managing director at Suresnes, acquired control of the Suresnes business when S T D Motors Limited, after its financial collapse, was liquidated in 1936. During 1916 the Suresnes assets, the whole French business, were transferred to Société Anonyme Automobiles Darracq, a new company incorporated in France for the purpose. British assets were transferred to a British company named Darracq Motor Engineering Company Limited. A Darracq and Company Limited was now no more than a holder of shares in these two businesses.
After the War automobile production resumed as soon as the Suresnes factory had ceased making munitions and planes. By the time of the Paris Motor Show in October 1919 the prewar 16HP "Type V14" had returned to production, featuring a four-cylinder 2,940cc engine, but the manufacturer's big news at the Paris show was the 24HP "Type A", powered by a V8 4,584cc unit. This model had been initiated by Managing Director Owen Clegg back in 1913, but production had been delayed by intervening events till 1919; the "Type A" featured four forward speeds and, from 1920, four-wheel brakes. Despite these innovative features, it did not sell well; the French franc had suffered a sustained crisis of its own during the war years, in May 1920 the "Type V" was listed at 35,000 francs in bare chassis form: a torpedo bodied car was priced at 40,000 francs. The "Type V", with its 3,150 mm wheelbase, was substantial car, but for customers wanting more, a "Type A" appeared on the same list at 39,500 francs in bare chassis form, 44,500 francs for a torpedo bodied car.
The prewar 16HP reappeared after the war and was the manufacturer's top-selling car in Britain. Following the inclusion of Clement Talbot in the S T D group Suresnes products were branded Talbot-Darracq but the word Darracq was dropped in 1922. Cars made by Automobiles Talbot imported from France to England were renamed Darracq to avoid confusion with the English Clément-Talbot products. Talbot automobiles In early 1934 S T D Motors granted the managing director of Automobiles Talbot SA an option extended twelve months to 10 June 1935 to acquire all S T D's interest in the French business in consideration of the release of S T D from its guarantee of the French company; the value of the guarantee was put at about £98,500. After "long and intricate negotiations" with the French company's bankers the managing director, Antonio Lago, duly exercised his option in 1936 and went on to produce luxury cars badged Talbot and racing cars badged Talbot-Lago until long after the second World War, he brought out a full range of new Talbots and embarked on what turned out to be a successful racing programme.
By the time of the German Occupation the Talbot factory was tooled up to make Pratt & Whitney aero engines. Headed by an Italian national, his British citizenship ignored, Lago's business did not suffer the disturbances of other motor manufacturers."To avoid confusion cars exported to certain countries by Automobiles Talbot S. A. are now known as Lago." The postwar range contained two and four-door saloons a drophead coupé and a fixed head coupé. As usual bare chassis were available. Darracq had become a famous name in motor-racing and the new S T D Motors combine cars bore a Talbot-Darracq badge; the 4.5-litre, six-cylinder Talbot-Lago T26 was eligible for F1 competition post-war, many examples, both factory and private, appeared in the first two years of the F1 World Championship, 1950 and 1951. Talbots came fourth and fifth in the inaugural World Championship race, the 1950 British Grand Prix, piloted by Yves Giraud-Cabantous and Louis Rosier respectively; the move to two-litre F2 regulations for 1952 ended Talbot's F1 spell as a manufacturer.
Northey, Tom, "Land-speed record: The Fastest Men on Earth", in Tom, ed. World of Automobiles, Volume 10, pp. 1161–1166. London: Orbis, 1974. Setright, L. J. K. "Opel: Simple Engineering and Commercial Courage", in Tom, ed. World of Automobiles, Volume 14, pp. 1583–1592. London: Orbis, 1974. Wise, David Burgess."Darracq: A Motor Enthusiast who Hated Driving", in Northey, Tom, ed. World of Automobiles, Volume 5, pp. 493–494. London: Orbis, 1974. Wise, David Burgess."Vanderbilt Cup: The American Marathon", in Northey, Tom, ed. World of Automobiles, Volume 21, pp. 2458–60-4. London: Orbis, 1974. Brochure issued c1938 by Société Anonyme Automobiles Talbot to Great Britain under the name of Darracq. Covers their 2½, 3, 4-litre chassis and their Lago Special The Darracq site of the British Sunbeam-Talbot-Darracq registerTemplate:Talbot
Simca was a French automaker, founded in November 1934 by Fiat and directed from July 1935 to May 1963 by Italian Henri Théodore Pigozzi. Simca was affiliated with Fiat and, after Simca bought Ford's French activities, became controlled by the Chrysler Group. In 1970, Simca became a subsidiary and brand of Chrysler Europe, ending its period as an independent company. Simca disappeared in 1978, when Chrysler divested its European operations to another French automaker, PSA Peugeot Citroën. PSA replaced the Simca brand with Talbot after a short period when some models were badged as Simca-Talbots. During most of its post-war activity, Simca was one of the biggest automobile manufacturers in France; the Simca 1100 was for some time the best-selling car in France, while the Simca 1307 and Simca Horizon won the coveted European Car of the Year title in 1976 and 1978, respectively—these models were badge engineered as products of other marques in some countries. For instance the Simca 1307 was sold in Britain as the Chrysler Alpine, the Horizon was sold under the Chrysler brand.
Simca vehicles were manufactured by Simca do Brasil in São Bernardo do Campo and Barreiros in Spain. They were assembled in Australia, Chile and the Netherlands during the Chrysler era. In Argentina, Simca had a small partnership with Metalmecánica SAIC for the production of the Simca Ariane in 1965. Henri Théodore Pigozzi was active in the automotive business in the early 1920s when he met Fiat founder, Giovanni Agnelli, they began business together in 1922 with Pigozzi acting as a scrap merchant, buying old automobile bodies and sending them to Fiat for recycling. Two years Pigozzi became Fiat's General Agent in France, in 1926 SAFAF was founded. In 1928, SAFAF started the assembly of Fiat cars in Suresnes near Paris, licensed the production of some parts to local suppliers. By 1934, as many as 30,000 Fiat cars were sold by SAFAF; the SIMCA company was founded in 1935 by FIAT, when Fiat bought the former Donnet factory in the French town of Nanterre. The first cars produced were Fiat 508 Balillas and Fiat 518 Arditas, but with Simca-Fiat 6CV and 11CV badges.
They were followed during 1936 by the Simca Cinq or 5CV, a version of the Fiat Topolino announced in the Spring, but only available for sale from October 1936. The Huit, an 8CV version of the Fiat 508C-1100, appeared in 1937. Production of the 6CV and 11CV stopped in 1937, leaving the 5CV and the 8CV in production until the outbreak of World War II; the firm remained connected with Fiat, it was not until 1938 that the shortened name "Simca" replaced "Simca-Fiat". Of the businesses that emerged as France's big four auto-makers after the war, Simca was unique in not suffering serious bomb damage to its plant. There were persistent suggestions that Henri Pigozzi's close personal relationship with the Agnelli family and Fiat's powerful political influence with the Mussolini government in Italy secured favourable treatment for Simca during the years when France fell under the control of Italy's powerful ally, Germany. Despite France being occupied, Simca cars continued to be produced in small numbers throughout the war.
Following the 1944 liberation, the company’s close association with Italy became an obvious liability in the feverish atmosphere of recrimination and new beginnings that swept France following four years of German occupation. Shortly after the liberation the Nanterre plant's financial sustainability received a boost when Simca won a contract from the American army to repair large numbers of Jeep engines. On 3 January 1946 the new government’s five-year plan for the automobile industry came into force. Government plans for Simca involved pushing it into a merger with various smaller companies such as Delahaye-Delage, Bernard and Unic so as to create an automobile manufacturing combine to be called “Générale française automobile”. With half an eye on the Volkswagen project across the Rhine, the authorities determined that GFA should produce the two door version of the “AFG”, a small family car, developed during the war by the influential automobile engineer, Jean-Albert Grégoire. Grégoire owed his influence to a powerfully persuasive personality and a considerable engineering talent.
Regarding the future of the French automobile industry, Grégoire held strong opinions, two of which favoured front-wheel drive and aluminium as a material for car bodies. A few weeks after the liberation Grégoire joined the Simca board as General Technical Director, in order to prepare for the production of the AFG at the company’s Nanterre factory. For Simca, faced with a determinedly dirigiste left-wing French government, the prospect of nationalisation seemed real. Simca’s long standing Director General, Henri Pigozzi, was obliged to deploy his considerable reserves of guile and charm in order to retain his own position within the company, it appears that in the end Pigozzi owed his survival at Simca to the intervention with the national politicians of his new board room colleague, Jean-Albert Grégoire. In return, Grégoire obtained the personal commitment of the surviving Director General to the production at Nanterre of his two-door AFG, it is easy to see how the two-door AFG looked, because its four-door equivalent went into
London is the capital and largest city of both England and the United Kingdom. Standing on the River Thames in the south-east of England, at the head of its 50-mile estuary leading to the North Sea, London has been a major settlement for two millennia. Londinium was founded by the Romans; the City of London, London's ancient core − an area of just 1.12 square miles and colloquially known as the Square Mile − retains boundaries that follow its medieval limits. The City of Westminster is an Inner London borough holding city status. Greater London is governed by the Mayor of the London Assembly. London is considered to be one of the world's most important global cities and has been termed the world's most powerful, most desirable, most influential, most visited, most expensive, sustainable, most investment friendly, most popular for work, the most vegetarian friendly city in the world. London exerts a considerable impact upon the arts, education, fashion, healthcare, professional services and development, tourism and transportation.
London ranks 26 out of 300 major cities for economic performance. It is one of the largest financial centres and has either the fifth or sixth largest metropolitan area GDP, it is the most-visited city as measured by international arrivals and has the busiest city airport system as measured by passenger traffic. It is the leading investment destination, hosting more international retailers and ultra high-net-worth individuals than any other city. London's universities form the largest concentration of higher education institutes in Europe. In 2012, London became the first city to have hosted three modern Summer Olympic Games. London has a diverse range of people and cultures, more than 300 languages are spoken in the region, its estimated mid-2016 municipal population was 8,787,892, the most populous of any city in the European Union and accounting for 13.4% of the UK population. London's urban area is the second most populous in the EU, after Paris, with 9,787,426 inhabitants at the 2011 census.
The population within the London commuter belt is the most populous in the EU with 14,040,163 inhabitants in 2016. London was the world's most populous city from c. 1831 to 1925. London contains four World Heritage Sites: the Tower of London. Other landmarks include Buckingham Palace, the London Eye, Piccadilly Circus, St Paul's Cathedral, Tower Bridge, Trafalgar Square and The Shard. London has numerous museums, galleries and sporting events; these include the British Museum, National Gallery, Natural History Museum, Tate Modern, British Library and West End theatres. The London Underground is the oldest underground railway network in the world. "London" is an ancient name, attested in the first century AD in the Latinised form Londinium. Over the years, the name has attracted many mythicising explanations; the earliest attested appears in Geoffrey of Monmouth's Historia Regum Britanniae, written around 1136. This had it that the name originated from a supposed King Lud, who had taken over the city and named it Kaerlud.
Modern scientific analyses of the name must account for the origins of the different forms found in early sources Latin, Old English, Welsh, with reference to the known developments over time of sounds in those different languages. It is agreed; this was adapted into Latin as Londinium and borrowed into Old English, the ancestor-language of English. The toponymy of the Common Brythonic form is much debated. A prominent explanation was Richard Coates's 1998 argument that the name derived from pre-Celtic Old European *lowonida, meaning "river too wide to ford". Coates suggested that this was a name given to the part of the River Thames which flows through London. However, most work has accepted a Celtic origin for the name, recent studies have favoured an explanation along the lines of a Celtic derivative of a proto-Indo-European root *lendh-, combined with the Celtic suffix *-injo- or *-onjo-. Peter Schrijver has suggested, on these grounds, that the name meant'place that floods'; until 1889, the name "London" applied to the City of London, but since it has referred to the County of London and Greater London.
"London" is sometimes written informally as "LDN". In 1993, the remains of a Bronze Age bridge were found on the south foreshore, upstream of Vauxhall Bridge; this bridge either reached a now lost island in it. Two of those timbers were radiocarbon dated to between 1750 BC and 1285 BC. In 2010 the foundations of a large timber structure, dated to between 4800 BC and 4500 BC, were found on the Thames's south foreshore, downstream of Vauxhall Bridge; the function of the mesolithic structure is not known. Both structures are on the south bank. Although there is evidence of scattered Brythonic settlements in the area, the first major settlement was founded by the Romans about four years after the invasion
Clément-Bayard, Bayard-Clément, was a French manufacturer of automobiles and airships founded in 1903 by entrepreneur Gustave Adolphe Clément. Clément obtained consent from the Conseil d'Etat to change his name to that of his business in 1909; the extra name celebrated the Chevalier Pierre Terrail, seigneur de Bayard who saved the town of Mézières in 1521. A statue of the Chevalier stood in front of Clément's Mézières factory, the image was incorporated into the company logo. From 1903 Clément-Bayard automobiles were built in a modern factory at Mézières, known as La Macérienne, which Clément had designed in 1894 for building bicycles; the company entered the field of aviation in 1908, announcing the construction of Louis Capazza's'planeur', a lenticular airship, in L'Aérophile in May 1908.: however it was never built. Adolphe Clément built Alberto Santos-Dumont's Demoiselle No 19 monoplane that he had designed to compete for the Coupe d'Aviation Ernest Archdeacon prize from the Aéro-Club de France.
It was the world's first series production aircraft and by 1909 Clement-Bayard had the license to manufacture Wright engines alongside their own design. In 1908'Astra Clément-Bayard' began manufacturing airships at a new factory in La Motte-Breuil. In 1914 the factory La Macérienne at Mézières was seized by the advancing German army and automobile production in Levallois-Perret, was suspended as the factory was turned over to war production, military equipment and military vehicles, aero engines and planes. In 1922 the company was broken up and the factory in Paris was taken over by Citroën. Circa 1909 Adolphe Clément received permission from the Conseil d'État to change his name to Adolphe Clément-Bayard. In 1896 Adolphe Clément who held the profitable manufacturing rights for Dunlop tyres in France joined with a syndicate led by Dunlop's founder Harvey Du Cros to buy out the Gladiator Cycle Company and they merged it into a major bicycle manufacturing conglomerate of Clément, Gladiator & Humber & Co Limited.
The range was expanded, in 1902 a motorised bicycle led to cars and motorcycles. Clément chose the name Bayard in commemoration of the Chevalier Pierre Terrail, seigneur de Bayard who saved the town of Mézières in 1521. A statue of the Chevalier stood in front of the Mézières factory, the image was incorporated into the company logo. After the split both marques built similar cars, but the specifications diverged. Clément-Bayard cars were imported to Britain under the Talbot brand; the initial model range comprised three models and was enhanced in 1904 with a 6Hp single-cylinder, a 7Hp twin-cylinder, 14Hp, 20Hp & 27Hp 4-cylinders. From 1904 Clément-Bayard production at Levallois-Perret increased from 1,800 cars per annum to 3,000 in 1907, employing up to 4,000 workers; the range included several models, all luxurious and high quality, from a small two-seater twin-cylinder 8-10 hp to a big four-cylinder 50-60 hp model that could exceed 60 km/h. In 1907 the 10/12 hp model was introduced with a dashboard radiator.
In 1910 Clément-Bayard started to manufacture a stylish, low cost, two-seater roadster, with a 4-cylinder 10/12 hp, a heater for the driver and passenger. It was popular and production continued until the outbreak of war in 1914. By 1913 the factories of Levallois and Mezieres were focused on the production of a wide range of products including car chassis, car bodies, trucks, airplanes, canoes, bicycles and generators. On the front page of the 15 November 1913 edition of the Revue de l’industrie automobile et aéronautique Clément-Bayard announced a new 4-cylinder 30-40 Hp motor. By early 1914 Clément-Bayard had a complete range of twelve models, from two to six seats, equipped with engines ranging from a small 7 hp twin-cylinder for less than 7000 francs to a big 6-cylinder 30 Hp unit. Additionally there was a 20 Hp four-cylinder'valveless' Knight engine, licensed from Panhard et Levassor. In 1914 the factory La Macérienne at Mézières was seized by the advancing German army and automobile manufacture in Levallois-Perret, was suspended as the factory was turned over to war production: military equipment.
After World War I motor production resumed with a 17.6 hp model. Clément-Bayard started building automobiles in 1903 and started building racing cars in 1904; the racing team included Albert Clément, Jacques Guders, Rene Hanriot, Marc-Philippe Villemain,'Carlès', "De la Touloubre" and A. Villemain, Pierre Garcets. Albert Clément finished 10th at the I Eliminatoires Françaises de la Coupe Internationale, held at the Forest of Argonne on 20 May 1904; this was an eliminating contest for the French entry into the Coupe Internationale where only three cars were allowed per country. Clement finished 532.79 km event in 7 hours 10 minutes 52.8 seconds. His team-mates Jacques Guders and Rene Hanriot failed to complete a single lap. Albert Clément won the II Circuit des Ardennes des Voiturettes on 24 July 1904 at Bastogne, he completed the 5 lap 240.010 km race in 4h 26m 52.6seconds at an average speed of 53.91 kph in an 18Hp Clement -. He set the fastest lap of the race at 45minutes 02seconds. Clément drove his Clement-Bayard into third place at the III Circuit des Ardennes race at Bastogne, on 25 July 1904.
He completed 591.255 km event in 6 hours 34 minutes 43.2 seconds. His team-mates Jacques Guders and Rene Hanriot both abandoned after four laps. Clément finished second at the 1904 I. W. K. Vanderbilt Cup Race on Long
For other businesses associated with Adolphe Clément – see Clement. Clément-Talbot Limited was a British motor vehicle manufacturer with its works in Ladbroke Grove, North Kensington, founded in 1902. Rootes renamed it Sunbeam-Talbot Limited in 1938; the new business's capital was arranged by the Earl of Shrewsbury and Talbot, shareholders included automobile manufacturer, Adolphe Clément, along with Baron A. Lucas and Emile Lamberjack all of France; the shareholders sold it in late 1919 to the company. It kept its separate identity making cars designed specially for it or by its employees until 1934. After S T D's financial collapse it was bought by the Rootes brothers; the first Talbots, re-badged Clément-Bayards built in France, were sold by the British Automobile Commercial Syndicate Limited, manager Daniel M Weigel, from the Earl's premises at 97-98 Long Acre, which included Maison Talbot, importers of Michelin tyres. The earl's flourishing business was the importation, distribution through a large British network and retailing of many brands of European motor cars and associated products.
It brought about the close association with businessman Adolphe Clément. The earl closed this business in 1909, when its only advertised brand was Spyker, because it seemed to be foolish to compete with his own Talbot dealers. On 11 October 1902 Clément-Talbot was formally incorporated "to carry on business as manufacturers of and dealers in horseless carriages and motor-cars, air-ships and the component parts thereof". 5 acres lifted to 28 acres of land were purchased for a new factory in Ladbroke Grove, North Kensington, alongside the Great Western Railway line and between Wormwood Scrubs and the Kensal Green Cemetery. The housing estate now on the site has Shrewsbury Street as its main access-way. Weigel was appointed managing director and C R Garrard works manager of Clément-Talbot. Kensington assembly got under way in 1904 using imported components. In December 1904 speaking at their annual trade dinner in the presence of all directors the Earl described Clément-Talbot as "partly-controlled by French interests".
At that time production was British made except for the engines imported from France. The first wholly British designs were made in 1907. However, in 1908 the opportunity was taken to equip new cars with a successful new Clément-Bayard engine of L-head design with improved performance, its more compact combustion chamber allowed higher compression ratios. Talbots could now match beat Vauxhalls and Sunbeams in competition Cars made in France are marked with an asterisk Information assembled from The Autocar Buyer's Guide and published in Appendix V, Ian Nickols and Kent Karslake, Motoring Entente, London 1956 In autumn 1919 A Darracq and Company agreed terms for their purchase of all the shares in Clément-Talbot as of 31 July 1918. Auguste Oddenino, Regent Street restaurateur and businessman was, by a major shareholder in Clément-Talbot. Adolphe Clémente-Bayard's Levallois factory did not flourish after the Armistice of 11 November 1918, he lost interest in motor manufacturing. In 1921 he would sell his works at Levallois to André Citroën.
The Earl of Shrewsbury and Talbot died in 1921. In 1920 London's Darracq added Sunbeam Motor Car Company to its enterprise and renamed itself S T D Motors. Shareholders and subsequent commentators were at loss to explain the commercial advantages given by the combination; each of the three companies continued to operate independently. S T D's products were made in Wolverhampton and Paris. Anthony Blight believes Coatalen was drawn back to full-time efforts at S T D by the possibility of racing cars under three brand names and of two nationalities, he had not long retired from his chief engineer post at Sunbeam and was now a design consultant in Paris in his native France. The process of dropping the Darracq name for the Paris products was begun in early 1919 when new cars were badged Talbot-Darracq. In 1920 Darracq was dropped altogether from Talbot-Darracq. Owen Clegg at Suresnes, would design new cars to be built in Suresnes and Kensington. Louis Coatalen who had remained a director of S T D joined S T D Motors as chief engineer and blocked Clegg's new designs.
Coatalen's principal interest was a new Sunbeam racing car and, of course, a whole new range of products for Wolverhampton and Paris. Kensington would have to build a small car for the utility market; the new utility Talbot would be designed in Paris by Coatalen's freshly assembled team. At first the Kensington factory kept its employees busy converting wartime ambulances to Talbot touring cars; when that ran out they had to revert to their prewar models, which were luxury cars and impossible to sell in the new slump of mid-1920. They were asked to build the two new 3-litre straight eight S T D Grand Prix cars and a 1½-litre variant – all to wear a Talbot radiator. 8-18 a Paris designa small fast chic "utility" car it sold only to country doctors and professional men. The lively 970 cc engine ran sweetly. Designed in Paris its lack of a differential burst tyres broke spring mountings and gave drivers humiliating battles at corners, it was fifty per cent too expensive for the "utility" class. A made-in-Barlby-Road Talbot it turned up from Acton with a different-shaped radiator as a locally assembled Suresnes Darracq.
10-23 a Roesch ameliorationa bored out 8-18 engine, 1074 cc, a differential, a longer and stronger wheelbase and chassis with the back springs properly tied on. 2 1/2 cwt heavier, 280 lb. It was a commercial success. 12-30 the first Talbot Six and another Paris designan 8-18 with two more cylinders, 1454 cc. Weight an
Groupe PSA is a French multinational manufacturer of automobiles and motorcycles sold under the Peugeot, Citroën, DS, Opel and Vauxhall brands. Peugeot is the largest PSA brand in the world. PSA is listed on the Euronext Paris stock exchange and is again a constituent of the CAC 40 index after having been removed in 2012. Beginning in 2016, PSA began to outline a strategy which entailed the rapid expansion of the company, through both geographic expansion and acquisitions of other car companies. PSA has announced plans to enter the Indian, Canadian, ASEAN, other markets in the coming years. Headquartered in Rueil-Malmaison, PSA, with sales of 3.78 million units, was in 2018 the second-largest Europe-based automaker. In December 1974 Peugeot S. A. acquired a 38.2% share of Citroën. On 9 April 1976 they increased their stake of the bankrupt company to 89.95%, thus creating the PSA Group, becoming PSA Peugeot Citroën. Since Citroën had two successful new designs in the market at this time and Peugeot was prudent in its own finances, the PSA venture was a financial success from 1976 to 1979.
In late 1978, PSA purchased the failing Chrysler Europe from the troubled US parent firm for a nominal US$1.00, plus assumption of outstanding debt, leading to losses for the consortium from 1980 to 1985. Further investment was required because PSA decided to create a new brand for the entity for the disparate French and British models, based on the Talbot sports car last seen in the 1950s. From on, the whole Chrysler/Simca range was sold under the Talbot badge until production of Talbot-branded passenger cars was shelved in 1987 and on commercial vehicles in 1992. All of this investment caused serious financial problems for the entire PSA group. In 1987, the company dropped the Talbot brand for passenger cars when it ceased production of the Simca-developed Horizon. What was to have been the Talbot Arizona became the Peugeot 309, with the former Rootes plant in Ryton and Simca plant in Poissy being turned over for Peugeot assembly from October 1985. Producing Peugeots in Ryton was significant, as it signaled the first time that PSA would build cars in the UK.
The Talbot name survived for a little longer on commercial vehicles until 1992 before being shelved completely. From 1987 to 1995, the Ryton plant produced the Peugeot 405 saloon. On 29 February 2012, PSA announced the creation of a major alliance with General Motors, as part of which GM became PSA's second-largest shareholder, after the Peugeot family, with a holding of 7%; the alliance was intended to enable $2 billion per year of cost savings through platform sharing, common purchasing and other economies of scale. In July 2012, a union official said that PSA Peugeot Citroën would cut as much as 10 percent of its French workforce of 100,356 employees on permanent and temporary contract; the jobs cut was more than announced. On 24 October, PSA said it was close to an agreement with creditor banks on €11.5 billion of refinancing and had won state guarantees on €7 billion in further borrowing by its Banque PSA Finance. CEO Philippe Varin says that "Citroën and Peugeot are too close", so he plans on positioning Citroën C-line models lower than Peugeot with DS models above Peugeot.
On 12 December 2013, General Motors announced it was selling its 7% stake in PSA Peugeot Citroën to the multibillion-dollar Padmapriya Automobile Investment Group. In 2014, Dongfeng Motor Group, the Chinese partner that builds PSA cars in China, the French government each took a 13% stake in PSA, in a financial rescue operation, reducing the Peugeot family share from 25% to 14%. Following Dongfeng and the French government each acquiring stakes in Groupe PSA, various cost-cutting measures at the company turned its fortune around and reduced PSA's debt, until the company began to turn a profit beginning in 2015. A new CEO, Carlos Tavares, was engaged and began to implement various cost-cutting measures and expanded the model range of all three core brands, alongside the creation of a new brand, DS Automobiles. In early 2016, PSA unveiled a roadmap detailing its plan to re-enter the North American car market for the first time since 1991. Although many only expected the DS to enter the North American market, PSA announced that all of its brands would be sold across the continent.
The plan to re-enter the market has three-stages, be a partner in a transportation network company begin renting and sharing PSA's own vehicles to the public several years after, followed by a full launch, establishing a dealer network in 2020. On 10 February 2017, PSA announced a 50:50 joint venture with the C. K. Birla Group the owner of the Hindustan Motors to sell Peugeot, Citröen, DS vehicles in India and purchase of the Ambassador brand from Hindustan Motors at the cost of INR 80 Crore; this marks the first time in over twenty years. On 14 February 2017 PSA announced that it was in talks to acquire Opel and Vauxhall Motors from General Motors; the talks were in an advanced stage, but were a surprise to the press and to much of Opel's leadership as they had plans to transform the company into an electric-car-only brand using the platform of the Opel Ampera-e for a wide range of models. GM agreed to continue to supply PSA with other electric vehicle technology. GM reported a loss of US$257 million from its European operations on 2016, sixt