Monday, December 21, 2009
Mitsubishi and PSA Peugeot-Citroen Set Up Joint Venture in Russia
With Russia set to become Europe’s largest single car market in 2009 overtaking Germany, it comes to no surprise that automakers are getting into all sorts of agreements to build new assembly lines. Today, Mitsubishi Motors Corporation (MMC) and PSA Peugeot Citroën announced that they signed a joint venture agreement to produce vehicles for all 3 brands (Peugeot, Citroën and Mitsubishi) in Russia.
The new assembly plant will be located on the site of Kaluga, 180 km South-West of Moscow and it will produce mid-range SUVs for Mitsubishi, Peugeot and Citroën brands as well as medium size Peugeot and Citroën vehicles. with an overall installed capacity of 160,000 vehicles. The foundation stone of the plant that will have an overall annual capacity of 160,000 vehicles will be laid on June 10th 2008 in Kaluga with production set to commence in 2011.