PSA acquires interest in 2nd regional spare parts distributor
PSA Peugeot Citroen has acquired shares in UAP Auto Union, marking the French auto giant’s second investment this year in a regional independent spare parts distributor in China.
The deal will enable PSA to further expand its multibrand Euro Repair Car Service garages in China, PSA said.
PSA provided no further details on the deal last week.
UAP, headquartered in east China’s Shandong province, has opened more than 150 stores. Two-thirds of the stores are in Shandong and the rest are in neighboring provinces in east China and north China.
In February, PSA said it acquired a controlling stake in Jian Xin, a major independent spare parts distributor in Shanghai.
In 2016, PSA began opening Euro Repair Car Service garages in China. The network comprises more than 350 garages. PSA said it wants to expand the network to 4,000 garages in China by 2023.
PSA provided no further details on the deal last week.
UAP, headquartered in east China’s Shandong province, has opened more than 150 stores. Two-thirds of the stores are in Shandong and the rest are in neighboring provinces in east China and north China.
In February, PSA said it acquired a controlling stake in Jian Xin, a major independent spare parts distributor in Shanghai.
In 2016, PSA began opening Euro Repair Car Service garages in China. The network comprises more than 350 garages. PSA said it wants to expand the network to 4,000 garages in China by 2023.
