PSA, Dongfeng plan to start production in Vietnam, report says
BEIJING (Reuters) -- PSA/Peugeot Citroen and its own Chinese joint-venture partner Dongfeng Motor will start an assembly plant in Viet-Nam as part of strategies to grow in South-East Asia, China's Xinhua news agency reported on Wednesday.
Dongfeng Peugeout Citroen Car intends to start gathering in Vietnam after this year in partnership with THACO Team, based on Xinhua, the the state state information company.
The partnership has started creation of compact vehicles in Malaya in co Operation with nearby business Naza Team, Xinhua also stated.
A year ago, PSA and Dongfeng consented on a-3 billion-euro ($3.34 billion) funds tieup, offering the French car-maker much needed funds to to show its company around.
The car companies concurred that their China JV would plan to market 1.5 million automobiles a year beginning in 2020, as well as contemplate setting up a new firm responsible for revenue in the Asia Pacific area, particularly in South-East Asia.
Functionaries at PSA and Dongfeng didn't promptly react to Reuters' requests for opinion.
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Dongfeng Motor Group
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