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PSA in new Chinese deal
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PSA Peugeot Citroën has just announced that bit has signed an agreement with Chinese company Changan Automotive. The two companies will be equal partners in the joint venture, whose total investment is estimated by Reuters to be approaching one billion Euros. The enterprise will produce LUV’s and passenger cars, initially the Citroën DS range, and a new brand is also set to be created. The existing factory of Harbin Hafei Automobile Industry Group, a subsidiary of Changan, will be used. The launch of the first vehicle is expected in the second half of 2012. PSA already has agreements with Dongfeng Motor Group, with whom it produces the Peugeot 408 and Citroën C5.
| 13/07/2010 | Tim Harrup
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