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Groupe PSA Invests In China's FengChe

Groupe PSA (PEUGF.PK) said that it invested in FengChe, expert in used car supply chain management and transaction services in China.

FengChe, Founded in Shanghai in 2015, provides a used car management and sales operations system, B2B transaction platforms and strategic used car business advice to OEMs, dealership groups, used car markets and large and medium-sized used car dealers.

Marc Lechantre, Senior Vice President of the Used Vehicles Business Unit at Groupe PSA, said, "The FengChe investment is an important next step for Groupe PSA as part of the Push to Pass plan to increase our international footprint and revenues. We are very confident that in FengChe we have found a strong, dynamic partner who we believe will be a major player in the Chinese automotive market."

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