Today 09/23/2016 - 05:35:23 PM
Peugeot SA 13.525€
CAC 40 4,488.69 PTS
On 15 April, at a French National Assembly hearing before the Economic Affairs and Sustainable Development committees, Carlos Tavares, Chairman of the PSA Peugeot Citroën Managing Board, took the floor to reaffirm the Group's strategy.
In so doing, he referred to the main drivers of the Group's financial reconstruction:
Carlos Tavares reiterated that he aims to improve the company's financial performance by focusing on manufacturing excellence and, at the same time, ensure it remains a major industry player in France.
Repeating the message he gave at an initial hearing in July 2014, he reaffirmed the Group's commitment to proposing sustainable, clean mobility solutions, notably through:
– The development of innovative, high-performance technologies for the vehicle of the future, such as rechargeable hybrids and electric cars. In addition, Mr. Tavares announced PSA Peugeot Citroën's determination to be a major player in connected services after pioneering the first emergency call and assistance systems over ten years ago, with more than 13,000 calls transferred to France's rescue services to date. Lastly, he announced that vehicles would be launched in 2018 featuring the very first automated driving systems for use in traffic jams.
– Investments in R&D to constantly improve existing solutions that have enabled PSA to become the leading European carmaker in terms of CO2 emission reduction, with average emissions of 110.3 g/km. He made the point that petrol and Euro 6 diesel engine emission performance is converging and that the issue of CO2 emission reduction needs to be addressed by setting quantitative targets rather than by imposing technical solutions. He said that the modern diesel engine is the mass-market technology needed to meet the European Union objective of lowering emissions to 95 g of CO2/km by 2020 in order to combat climate change.
Mr. Tavares also pointed out that the existing vehicle fleet needed to be upgraded in order to achieve far-reaching, long-term change. A single Euro 1 vehicle manufactured before 1996 emits as much particulate matter as 600 modern Euro 5/6 diesel vehicles made after 2010 and equipped with a particulate filter.
Lastly, Mr. Tavares mentioned that road transport as a whole accounts for 17% of fine particle emissions (less than 2.5 microns or PM2.5) nationwide, and that regulatory requirements under each new set of European standards combined with technological improvements to diesel engines have helped to address the issue of pollutant emissions.
At the same time, he re-emphasized PSA's commitment to continuously developing technological solutions that will make cars instruments of sustainable mobility. "The car is a precious asset because it provides freedom and mobility, which are the very essence of a modern, open and adaptable society," he said. "In this regard, the car is a true product of civilization."