Well, is a little more complicated than this. The group PSA (owner of peugeot and citroen) is not exclusively French anymore. After the low sales in the austericide years was rescued by Chinese investors (Dongfeng motor corporation). The Peugeot family has lost the full control of their companies by first time in 200 years.
And if someone wonder why EU didn't just try to do something to help those european companies that employ thousands of european people... Because Germany motor companies pushed hard against.
http://www.bloomberg.com/news/articles/2014-02-19/china-s-do...
Renault on the other hand allied with Nissan.