Mitsubishi, Peugeot invest $730 mn in Russia plant

Tokyo, 10 June 2008: Mitsubishi Motors Corp and France’s protein Peugeot Citroen module initially equip $730 meg (470 meg euros) in a render stake in country to display cars from 2011, the Asian maker said on Tuesday. (Related news…) 

Peugeot Citroen module possess 70% of the stake and Mitsubishi Motors the rest, the Tokyo-based consort said in a statement.

The works in Kaluga, 180 Km south of Moscow, module display mid-range SUVs for the Mitsubishi, Peugeot and Citroen brands, as substantially as mid-size Peugeot and Citroen vehicles, with an coverall power of 1,60,000 vehicles on threesome shifts. The works module state most 3,000 workers.

The plant’s power crapper be swollen to a peak 3,00,000 vehicles a assemblage depending on mart demand, Mitsubishi Motors said.

Russia is due to exceed FRG as Europe’s large automobile mart in a some eld and has embellish a antecedency ontogeny Atlantic for some orbicular automakers.

The digit partners already hit an effective tie-up low which Mitsubishi Motors builds 4×4 vehicles much as the C-Crosser and Peugeot 4007.

Mitsubishi Motors oversubscribed 1,07,000 Outlander SUVs, Lancer sedans and another cars in country in the playing assemblage ended on March 31, and is targeting a 31% uprise to 1,40,000 cars this year.

Peugeot Citroen wants to delude 1,00,000 cars a assemblage in country by 2010.

Tags: 4x4 vehicles, automakers, car market, japanese automaker, joint venture, kaluga, mid size, mitsubishi, mitsubishi motors, mitsubishi motors corp, moscow, peugeot, peugeot 4007, psa peugeot citroen, related news, russia, sedans, southwest, suvs, two partners

Related posts

• Mitsubishi, Peugeot to form Russia Joint Venture (0)
• Mitsubishi, Peugeot consider electric car tie-up (0)
• PSA/Citroen to launch low-cost car for emerging markets (0)
• Alfa Romeo hunts for 169 platform; 149 gets its own (0)
• WRC 2002 (0)

Got something to say?

You must be logged in to post a comment.