Firmly committed to transformation Dragon to launch new electric vehicle brand

At the 2023 China Dragon Motor Culture Festival in February this year, China Dragon Motor unveiled its future product plans. In terms of traditional energy, the Citroen and Peugeot brands will retain around six models, and through the brand's "family-oriented" styling upgrade, powertrain upgrade and iteration of intelligent internet-connected equipment, enhance the competitiveness of products and maintain a stable market scale. In the next five years, eight new models will be launched, offering customers a wide range of powertrains such as BEV, PHEV and REEV. The first new energy model will be launched in 2024.

Sources close to the matter revealed that the Chinese and French shareholders have reached a consensus on the transformation of new energy, making it clear that the company will develop in perpetuity. At the same time, the French side supports China Dragon to take the lead and develop independently.

　　It is understood that a series of marketing changes are being made within Citroen to prepare for full electrification. These include initiatives such as increasing the dual-brand channel layout and improving dealer profitability. At the same time, China Dragon Motor will integrate resources within the company to strengthen the integrated management of the marketing area, including, unified model platform management, unified sales strategy, unified regional management, unified customer operations, unified PR team to improve efficiency, while maintaining the independent tone of the dual brands, in addition to motivating employees through salary and incentive changes.