PARIS Feb 19 PSA Peugeot Citroen
announced a 3 billion euro ($4.1 billion) tie-up with China's
Dongfeng Motor Group on Wednesday as the French
carmaker posted a further loss for 2013.
Dongfeng and the French state will each pay 800 million
euros for a 14 percent stake in the carmaker, Peugeot said in a
statement. The companies will add new models in Asia to target
1.5 million annual sales soon after 2020.
Peugeot said its full-year net loss narrowed to 2.32 billion
euros from 5.01 billion in 2012, when the bottom line was hit by
asset writedowns. Sales fell 2.4 percent to 54.09 billion euros.
($1 = 0.7272 euros)
(Reporting by Laurence Frost; Editing by James Regan)