PSA Peugeot Citroen is remaining coy concerning Renault’s announcement it has inked a joint venture with Chinese automaker, Dongfeng, but says it welcomes Europe doing more business with Beijing.
Renault CEO, Carlos Ghosn and Dongfeng chairman, Xu Ping, signed the deal, which will see the joint venture undertake localised production in China through the Dongfeng Renault Automotive Company (DRAC).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“No, we have no comment about that,” a PSA spokeswoman told just-auto from France. “It is good news many European companies are reaching China, but we do not have any comment.”
Speculation continues in France PSA could be on the verge of announcing more cooperation with existing partner, Dongfeng, perhaps also in partnership with the French government, although no details have been released.
“Our latest statement…we announced publicly that we are examining a commercial partnership with them [Dongfeng], is the latest news we have on that topic,” added the PSA spokeswoman.
The Renault agreement secured final approval from the National Development and Reform Commission of China (NDRC) on 2 December.
Total outlay for the spend for the 50/50 JV is CNY7.76bn (US$1.3bn).
