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Peugeot was founded in 1896.
In addition, in parallel with the production of cars, the company was engaged in the production of bicycles, which provided good profits for subsequent investments in the creation of new car models.
In 1963, a new prestigious 504 coupe model was introduced, which became a joint creation with the same Pininfarina studio.
In 1966, it was announced that it would conclude an agreement with one of its main competitors, the Renault concern, which became Peugeot's technological partner for a long 14 years.
In the course of cooperation, 6-cylinder 2.7-liter power units were developed, installed on the most expensive models of both brands.
In 1972, cooperation with Volvo was announced, and just two years later, thanks to a generous subsidy from the French government, Peugeot bought out a controlling stake in another French Citroën brand, which was mired in debt due to excessively wasteful approach to creating new models.
Thus, the Peugeot leadership got a popular brand at its disposal, which had a number of patents and developments. In addition, a successful acquisition provided the company with a real racing team, which was part of one of Citroen's subsidiaries - the Maserati brand.
Only six months later, in 1975, Maserati was sold, which allowed the new Peugeot Citroen concern to avoid a crisis.
In 1978, the combined company Peugeot Citroen bought out the European division of the American concern Chrysler, since it was on the verge of bankruptcy due to the inability to compete with European brands.
However, the concern suffered only serious losses from this acquisition, which led to the onset of a long crisis and loss of profit between 1980 and 1985.