Monday, 18 July 2011

Chinese authorities approve PSA-Changan JV



A joint venture between PSA Peugeot Citroen  and China's Changan to make and distribute cars and light commercial vehicles got the go-ahead from Chinese authorities, the French car maker said on Monday.
China's National Development and Reform Commission on July 12 approved the venture, which will initially focus on introducing the Citroen DS range to China, as well as launching a dedicated JV brand, PSA said in a statement.

PSA and Changan, the state parent of Chongqing Changan Automobile Co , signed a deal for a 50-50 manufacturing joint venture in July 2010, with an initial investment of 8.4 billion yuan.  They had been waiting for final approval from the Chinese government.
In April, PSA unveiled the new Citroen DS5 premium five-seater car in Shanghai, demonstrating how it is trying to expand in China, the world's largest car market.

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