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:
“The simple opposition between the people and big business has disappeared because the people themselves have become so deeply involved in big business.”
—Walter Lippmann (1889–1974)
“After all, the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing and prospering in the world.”
—Calvin Coolidge (1872–1933)
“The whole business of your life overwhelms you when you live alone. One’s stupefied by it. To get rid of it you try to daub some of it off on to people who come to see you, and they hate that. To be alone trains one for death.”
—Louis-Ferdinand Céline (1894–1961)