Peugeot, Fiat Won" t Renew French Joint Venture In 2017

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Car maker PSA Peugeot-Citroen SA (UG.FR) explained Thursday its car manufacturing joint opportunity with Italian peer Fiat SpA (F.MI) in northern France are are proceeding being discontinued right after 2017, and at the same time announced EUR355 million dollars of refreshing expense in engineering jobs within region.

The Sevelnord assembly line, situated at Valenciennes around the border with Belgium, delivers the Peugeot 807 and Citroen C8 minivans, too because Peugeot Expert, Citroen Jumpy and Fiat Scudo delivery vans. Fiat at first developed its especially own variants while using 807 and C8 at Sevelnord, but halted in the year 2010 being a complete result of insufficient income as well as the should invest to upgrade its autos to significantly more stringent Euro 5 European emission standards. At present, 80% of Sevelnord's manufacturing is made of versions for the Peugeot and Citroen brands.

The two European automotive types developed the choice to wind up their partnership being a complete result of "diverging product strategies," the French group said.

Peugeot-Citroen explained it methods to invest EUR220 million dollars greater compared to next three many years to generate a maker new seven-speed, dual-clutch transmission at Valenciennes, producing 400 new jobs. The plant could have an yearly ability of 400,000 units.

At the precise same time, the group will invest EUR135 million dollars within a facility at local Douvrin that could produce a maker new turbocharged, 3-cylinder gasoline engine with an yearly ability of 320,000 engines. next year, Peugeot-Citroen will commence producing naturally-aspirated, three-cylinder engines in eastern France.

The two automotive companies will extend from 2017 by technique of 2019 one more joint opportunity at Val di Sangro, Italy, Peugeot-Citroen said. That venture, recognized as Sevelsud, manufactures the Peugeot Boxer, Citroen Jumper and Fiat Ducato lights industrial vehicles.

Under the conditions while using joint-venture agreements, Peugeot-Citroen, Europe's second-largest amount car maker right after Germany's Volkswagen AG (VOW.XE), has operational manage while using Sevelnord facility nonetheless Fiat works Sevelsud.

The two companies also reveal a opportunity with Turkish group Tofas that could make entry-level lights industrial autos with a plant at Bursa, Turkey. consequently of real truth 2006, Fiat goes on to be manufacturing gearboxes for the Peugeot-Citroen decided at Fiat's plant at Cordoba, Argentina.
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