Business
From 1865, Armand and his cousin Eugène became involved with the running of the company, then called Peugeot Frères Aînés. They took it into cycle manufacture in 1882, and exhibited a steam powered tricycle at the 1889 World Fair in Paris. They created their first car in their workhouse which is located in eastern France.
By 1892, the company name was Les Fils de Peugeot Frères, and they had begun to manufacture cars with Daimler engines. Armand wanted to increase production, but Eugène did not want to commit the company to the necessary investment. So, on 2 April 1896, Armand set up his own company, Société Anonyme des Automobiles Peugeot. He built a factory at Audincourt, dedicated to the manufacture of cars with an internal combustion engine.
In February 1910, without a male heir, he agreed to merge his company with Eugène’s. When he stepped down from managing the company in 1913, Peugeot were the largest car manufacturer in France, producing 10,000 cars per year.
Read more about this topic: Armand Peugeot
Famous quotes containing the word business:
“Every American travelling in England gets his own individual sport out of the toy passenger and freight trains and the tiny locomotives, with their faint, indignant, tiny whistle. Especially in western England one wonders how the business of a nation can possibly be carried on by means so insufficient.”
—Willa Cather (1876–1947)
“I’m afraid for all those who’ll have the bread snatched from their mouths by these machines.... What business has science and capitalism got, bringing all these new inventions into the works, before society has produced a generation educated up to using them!”
—Henrik Ibsen (1828–1906)
“In the United States all business not transacted over the telephone is accomplished in conjunction with alcohol or food, often under conditions of advanced intoxication. This is a fact of the utmost importance for the visitor of limited funds ... for it means that the most expensive restaurants are, with rare exceptions, the worst.”
—John Kenneth Galbraith (b. 1908)