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Change is afoot at PSA. The parent company of both Peugeot and Citroën is on the verge of securing major funding from both the French government and from Chinese automaker Dongfeng, it recently named former Renault COO Carlos Tavares as its chief executive officer, and now it has selected its new chairman.

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's supervisory board has approved changes in the company it hopes revitalizes the brand.

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2010 Peugeot 3008 – Click above for high-res image gallery

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PSA Peugeot-Citroën already sells its wares in China and has a joint-venture with Dongfeng, but has now added another joint venture partner in a €395 million ($499M U.S.) 50-50 tie-up with Chang'an Automobile Group. The union will eventually have cars like the Citroën DS3 and the company's engines and light trucks built in the country, using two current Chang'an factories, renovating one more and building another.

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The European automotive market is decidedly different than ours. For one, Europeans tend to have an affinity towards vehicles with wee dimensions, while a lot of Americans still trend towards a go-big-or-go-home mentality. Since Europeans seem to have a better grasp of the benefits of small cars, Peugeot-Citroen (PSA) feels that it will need three small electric vehicles (EVs) to fill the desires on the continent. PSA thinks that it can meet Europe's EV demand with battery-powered minicars, smal

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PSA Peugeot Citroën has announced that it will spend €175 Million to tool up one of its engine plants to build a new turbocharged inline three-cylinder engine. The Douvrin engine plant will have a capacity of 320,000 units per year starting in early in 2013. The 1.2-liter engines will join a normally aspirated version that debuts one year earlier.

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PSA Peugeot Citroën have announced that it will spend €175 Million to tool up one of its engine plants to build a new turbocharged inline-three cylinder engine. The Douvrin engine plant will have a capacity of 320,000 powerplants per year starting in early in 2013. The 1.2-liter engines will join a normally aspirated version that debuts one year earlier.

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Venturi and PSA Peugeot Citroën teamed up to build an electric version of the Berlingo a while back and, as they move to finally commercialize the vehicle early next year, they are sending a special version out on a little Shanghai to Paris roadtrip. The 8,326 mile (13,400 km) course was chosen as a homage to André Citroën, who completed the reverse route back in 1932. Last weekend, Venturi presented its car and team to Prince Albert II of Monaco, whose Foundation is one of the

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It's a bold ambition, sure, but someone's going to be the most environmentally-friendly automaker in 2015, and PSA Peugeot Citroën released a statement today asking, "Why not us?"

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