PARIS -- Groupe PSA is accelerating its drive to rebuild its business in China, which has fallen into the doldrums as the major French automaker has been dragged into price-cutting competition. The company, formerly called PSA Peugeot Citroen, will release a sport utility vehicle to tap into growing demand in China, as part of its efforts for a turnaround in the world's largest automobile market.
The expanding auto market in China is growing more important to PSA from the viewpoint of dispersing risks now that it has increased its presence in Europe due to the recent acquisition of General Motors' German unit Opel Automobile.
