Electronics Production |
PSA Peugeot Citroën to continue Valenciennes-Hordain plant
PSA Peugeot Citroën's future light commercial vehicle designed for the K1 segment in Europe will be produced at the Valenciennes-Hordain plant (France).
The Group's decision will ensure the future of the facility. It represents a total investment of more than €750 million, of which more than €400 million is dedicated to R&D.
In May 2011, FIAT and PSA Peugeot Citroën announced that they did not intend to renew their cooperative venture within Sevelnord to produce Peugeot Expert, Citroën Jumpy and FIAT Scudo vans at the Valenciennes-Hordain plant beyond 2017.
Continuing to manufacture light commercial vehicles at the plant depended on several conditions, which have now been met, the company stated.
- Agreeing on the terms and conditions for withdrawing from the joint-venture with FIAT (announced on 11 July 2012).
- Finding a partner to support the Group in producing a light commercial vehicle (agreement with Toyota on 23 July 2012).
- Improving the competitiveness of the Plant.