The French Government and China are throwing a lifeline to the automaker Peugeot – Each is investing 800 Million Euros (A$1.22 Billion) in the French automaker in a deal that will possibly expand the brand’s global presence.

Dongfeng Motor Company released a statement say that the Chinese company, the French government, and the Peugeot family will each own equal shares in PSA Peugeot Citroen and to have equal voting rights.  It gives Peugeot a major edge over other foreign automakers trying to sell cars in China.

Peugeot is France's biggest automaker and Europe's second-biggest after Volkswagen AG.  But it isn’t making waves in East Asia, even though it was developed models specifically for China, including its 408 sedan.