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Peugeot Changan Joint Venture Deal(0) Peugeot and Changan have signed a letter of intent for the 50-50 venture to make light commercial vehicles and passenger cars, the companies said in a joint statement. “The new joint venture will be complementary to the companies’ existing joint ventures,” the statement said. Peugeot already has a joint venture with China’s Dongfeng Motor Group but intends to further increase its presence in the country. It announced in January that it aimed to increase sales in China by 30 percent this year, double the growth rate for the country’s entire market. Source : Konaxis |
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Changan Peugeot Tie-up Talks(0) The firms are negotiating to set up a 50-50 commercial vehicle joint venture, said Du Yi, a vice president of Changan. An agreement is expected in one to two months, Du said on the sidelines of the Beijing Auto Show, which opened to the media on Friday. The new partnership will initially build cars in the southern Chinese city of Shenzhen, Du said. Peugeot already has a joint venture with Dongfeng Motor Group, but intends to increase its presence in the world’s number one auto market. It announced in January that it aimed to increase sales in China by 30 percent this year, double the growth rate for the country’s whole market. Source : Konaxis |
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Peugeot China market(0) Several 408 sedans rolled into a cavernous Beijing showroom on Monday for a gala launch ceremony dominated by young Chinese, the brand’s target buyers in the world’s top auto market. Peugeot plans to launch one new model a year following the release of the 408 model. The 408, which will be available from April and built in Wuhan, China, will allow “significant growth” for the brand, he said. The company is targeting a volume of 100,000 cars a year. The French vehicle maker operates a car manufacturing joint venture with Dongfeng Motor Group Co in China. Gales said it was also talking to other potential Chinese partners. China’s overall vehicle market should grow 15 percent this year, he said. Peugeot Citroen group had achieved a China market share of 3.4 percent in 2009, Gales told journalists on a conference call. Source : Konaxis |
