Toyota is close to an agreement to purchase light commercial vans from PSA Peugeot Citroen's threatened Sevelnord plant in northern France, La Tribune has reported.

Under the tentative agreement, Toyota would buy between 5,000 and 10,000 vans annually from 2013, rebadged with its own brand, the French weekly said on its website, citing unnamed sources, according to Reuters.

The company last week announced 8,000 job cuts and the closure of another French plant but said it was hopeful that Sevelnord, a joint venture with Fiat, would survive the Italian automaker's planned withdrawal.

Sevelnord's future depends on finding a new partner and obtaining concessions from unions, among other conditions, manufacturing chief Denis Martin said on 12 July.

While still in office, former French president Nicolas Sarkozy said in April that Peugeot and Toyota were in talks to share production at the Sevelnord site after Fiat's exit.

Japan's Kyodo News said the two companies will formally conclude the pact as early as next week.

While Toyota has exported commercial vehicles for European markets from Japan, production at the French plant will help avoid exchange losses stemming from the yen's appreciation.

Toyota's sole van model in Europe is a special 'long-nose' Hiace developed especially for the market; the model is a 'one-box' type elsewhere.

Rival Nissan shares some vans with the Renault-Nissan-Opel-Vauxhall joint venture in Europe. Years ago, Isuzu vans were built and sold in Europe by Opel/Vauxhall.