Changan Peugeot Citroen will be officially established in Shenzhen on November 20
Last July, Changan Automobile and the French Citroen Sign Group signed a joint venture agreement to form a joint venture. The new joint venture established by the two parties is located in Shenzhen, Guangdong Province and is targeted at the production of environmentally friendly light commercial vehicles and passenger vehicles. The registered capital is RMB 4 billion, and the two parties each have a share capital of 50%. It is reported that after more than a year of preparation, Changan Peugeot Citroën (CAPSA) will be formally established in Shenzhen on November 20.
Peugeot Citroen Commercial Vehicle
According to the plan, the joint venture will be positioned in the production of environmentally friendly light commercial vehicles and passenger cars, including the Peugeot Citroën Group's Peugeot, Citroen brand and the Changan brand under the China Changan Automobile Group, as well as the autonomy of the joint venture company Changan Peugeot Citroen (CAPSA). Brand. The initial investment amounted to RMB 8.4 billion. After the completion of the first phase, the production capacity will reach 200,000 complete vehicles and 200,000 engines, and a brand-new new energy R&D center will be built.
During the Shanghai Auto Show this year, VP Peugeot Citroën Varan said that the joint venture will initially focus on introducing the Citroen brand DS series to China. The first model to be put into production will be the new DS5 series.
DS models
Xu Liuping, chairman of Changan Automobile Group, also stated that Chang’an Peugeot Citroën’s development goal for the next 10 years is to reach the goal of annual production and sales of 1 million units by 2020. At that time, it will realize an output value of RMB 200 billion, plus auto parts and automotive services. The industry can achieve an output value of nearly 300 billion yuan.
Extensive reading:
Changan Peugeot Citroen Automobile Co., Ltd. will rely on the technical advantages and strong capabilities of China Changan Automobile Group and the French Peugeot Citroen Automobile Group to develop, produce and sell a series of light commercial vehicles, passenger vehicles and new energy vehicles in China. Initially, the joint venture will introduce Citroen DS series products and launch joint ventures' own brand products. Afterwards, according to the contract plan, the joint venture will timely launch a series of models of Changan brand, Peugeot brand and other brands of the shareholders according to the needs of market development.
Concrete Vibrator,Petrol Concrete Vibrator,Robin Engine Concrete Vibrator
Bison Machinery Co., Ltd. , http://www.tzengine.com