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:
“It is the business of the wealthy man
To give employment to the artisan.”
—Hilaire Belloc (1870–1953)
“The minute you try to talk business with him he takes the attitude that he is a gentleman and a scholar, and the moment you try to approach him on the level of his moral integrity he starts to talk business.”
—Raymond Chandler (1888–1959)
“My business is to teach my aspirations to confirm themselves to fact, not to try and make facts harmonize with my aspirations.”
—Thomas Henry Huxley (1825–95)