Toyota has dropped the ‘long-nose’ Hiace van in Europe and will instead buy rebadged PSA vans built at Sevelnord, France.
The automakers on Monday confirmed media reports last week as accurate.
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“As a first step, starting in the second quarter of 2013, PSA Peugeot Citroën will supply medium size vans derived from its existing vehicles Peugeot Expert and Citroën Jumpy. The agreement also includes collaboration on next generation vehicles which are to be produced by PSA Peugeot Citroën. The collaboration is expected to last beyond 2020,” they said in a joint statement.
“Under the plan, Toyota Motor Europe is to participate in the development and industrial investment costs for the next generation product. There are no plans for the two companies to enter into capital tie-ups or joint production.”
“The light commercial vehicle segment is an important one for us in many markets throughout Europe,” said Toyota Motor Europe president and CEO Didier Leroy.
“By joining forces with PSA Peugeot Citroën, we have found a good solution for our loyal customers following the recent discontinuation of our own Hiace model. We already enjoy a successful joint-venture partnership with PSA Peugeot Citroën in the small car segment and they are a leader in the European light commercial vehicle market, with a solid reputation for quality and versatility.”
Fiat is pulling out of the Sevelnord venture which has seen vans shared across up to four brands. The plant’s future had been seen as cloudy unless another partner could be found and union concessions agreed.
PSA and Toyota share a plant in the Czech Republic producing A-segment city cars.
