The Mitsubishi Peugeot Citroen joint venture agreement announced today concerns the production of vehicles for the three brands in Russia. The new Mitsubishi Peugeot Citroen plant will be located in Kaluga, 180 km South-West of Moscow. The new plant will have a 160,000 vehicles capacity and will produce mid-range SUVs for Mitsubishi, Peugeot and Citroen brands and medium size Peugeot and Citroen vehicles. The production is set to start in 2011.
Mitsubishi Press Release:
Osamu Masuko, President of Mitsubishi Motors Corporation (MMC), and Christian Streiff, Chairman of the Board of PSA Peugeot Citroen have signed a joint venture agreement to produce
vehicles for 3 brands, Peugeot, Citroen and Mitsubishi in Russia.
The assembly plant will be located on the site of Kaluga, 180 km South-West of Moscow. It will produce mid-range SUVs for Mitsubishi, Peugeot and Citroen brands as well as medium size Peugeot and Citroen vehicles, with an overall installed capacity of 160,000 vehicles. The foundation stone of this future plant will be laid on June 10th 2008 in Kaluga. Production is currently planned for 2011 start-up.
The manufacturing diversity of this future joint-venture is the perfect answer to the high growth of the Russian market on these two segments: mid-range vehicles represent 50% of sales in Russia and SUVs correspond to one of the most buoyant segments on this dynamic market.
In 2005, MMC and PSA Peugeot Citroen began working together on an SUV for the European market. Launched in 2007 in Europe, these SUVs are highly successful.
The joint venture agreement marks the deepening of relations between the two carmakers for whom Russia constitutes a priority growth region.
