• First application of the agreement signed in June by both partners to reinforce their cooperation
  • Partners agree to co-develop a new vehicle platform
  • A new one-ton pick up to be launched by 2020
The signing ceremony earlier today

The signing ceremony earlier today

Following the framework agreement signed last June 7th, Changan Automobile and Groupe PSA have signed an agreement to co-develop a new LCV vehicle platform and to develop a new one-ton pick-up for both partners.

At the first stage, the one-ton pick-up will be offered to Chinese customers and Groupe PSA overseas markets.

The LCV market represented 14 million vehicles worldwide in 2016 and the one-ton pickup represents 18% of this market, with a yearly 5% increase worldwide, PSA says.

Peugeot recently returned to the African pickup market with a modified Nissan model sourced from China. The new pickup will be complementary to that, PSA says.

Mr Patrice Lucas, EVP of Programs and Strategy at Groupe PSA commented: "This new product, which is complementary to the Peugeot pick-up recently launched in Africa, is in line with the core model strategy of Groupe PSA and will support our come back on this growing market segment. It will contribute to achieve the objectives set for the Push to Pass plan regarding LCVs with a target to increase volumes by 30% by 2018 and triple overseas volumes by 2021".

Mr Mingxue YUAN, EVP Cooperation and Strategy - Changan added: "This first common development for a new generation of one-ton pick-up is a great opportunity for both companies to hit markets in China and Overseas. It is a strong milestone in a long term cooperation between Groupe PSA and Changan."

See also: PSA and Changan sign agreement to boost DS in China

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