PSA Group and Toyota have signed a new agreement to further enhance their long-standing partnership. Accordingly, the PSA Group will supply Toyota with a compact van (C-van). According to the agreement, Toyota will take over the financial ownership of joint venture operations in the Czech Republic and will produce for both companies.
Toyota Motor Corporation (TMC) and PSA Group (PSA) today announced the next phase of their successful and mutually beneficial long-term partnership in the European market.
According to the agreement, PSA will increase the range of commercial vehicles it has supplied for Toyota Motor Europe NV/sa (TME) to sell under the Toyota brand in the European market by the end of 2019. PSA will supply TME with a C-van in the Vigo plant (Spain). PSA and TME cooperation began in 2012 with medium-class commercial vehicles. The PSA Group produced the Toyota Proace model at the Hordain plant in France.
The two companies aim to deepen collaboration and optimize development and production costs by using their strengths to deliver both compact and medium-sized light commercial vehicles on the European market. Toyota will be involved in the development and cost of industrial investment in the light commercial vehicle in the future.
From January 2021, the Toyota Peugeot Citroën Automobile Czechs in Kolin (Czech Republic), a joint venture that produces compact a-segment models.r.he. (TPCA) will take over the financial ownership of the factory. The TPCA joint venture was created by PSA and TMC in 2002 and contains a substance that allows each partner to review the share ratio. The plant will become a subsidiary of TME by joining Toyota’s seven other factories currently operating in Europe. Kolin plant will continue to produce a segment models available for the two companies. Toyota will continue manufacturing and manufacturing at Kolin plant in the future.
“Today’s announcement reflects the complementary and perfect relationship between the PSA Group and Toyota, ” said Didier Leroy, Vice President and general manager of TMC. Our agreement allows each company to act with its own power while sharing technology and development costs. Our commitment to Kolin’s factory reveals Toyota’s philosophy of producing cars where it sells and our long-term production strategy in Europe.” quoth.
“We are opening a new page in our successful and mutually beneficial partnership based on the trust we have heard to give our customers and companies an advantage, ” said Carlos Tavares, Chairman of the PSA Group.” quoth.
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