PSA Peugeot Citroen and Changan Automotive Group will finalise on Friday a joint venture deal to produce vehicles in China, a PSA director said.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Peugeot and Changan signed a letter of intent to form the 50-50 venture in May that laid the groundwork for the deal.
A final accord will be signed on Friday, Jean-Marc Gales, director for Peugeot brands told AFP.
The partnership is to build light utility vehicles and passenger cars in the booming Chinese market.
Peugeot has a separate joint venture with Dongfeng Motor Corporation and their two factories in Wuhan, the capital of central China’s Hubei province, have a production capacity of 450,000 vehicles.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
