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PSA and Mitsubishi Set Up JV in Russia for Mid-Range and SUVs

19 May 2008

PSA Peugeot Citroën and Mitsubishi Motors Corporation (MMC) have signed a joint venture agreement to produce vehicles for 3 brands—Peugeot, Citroën and Mitsubishi—in Russia. The JV will produce mid-range SUVs for Mitsubishi, Peugeot and Citroën brands as well as medium size Peugeot and Citroën vehicles, with an overall installed capacity of 160,000 vehicles.

Mid-range vehicles represent 50% of sales in Russia and SUVs are one of the most buoyant segments in the market.

The assembly plant will be located on the site of Kaluga, 180 km South-West of Moscow. The foundation stone of this future plant will be laid on 10 June 2008; production is currently planned to start in 2011.

May 19, 2008 in Brief | Permalink | Comments (0) | TrackBack (0)

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