Tokyo, Japan – Mitsubishi Motors Corporation and PSA Peugeot Citroën have signed a joint venture agreement to produce Mitsubishi, Peugeot and Citroën vehicles in Russia.
The assembly plant will be located 180 km southwest of Moscow and will produce mid-range SUVs under the three brand names, as well as medium-sized Peugeot and Citroën vehicles, with an overall installed capacity of 160,000 vehicles. The plant’s foundation stone will be laid in a ceremony on June 10; production is currently planned to begin in 2011.
In 2005, the two companies began working together on an SUV for the European market, which was successfully launched in 2007 in Europe. Mid-range vehicles represent 50 per cent of sales in Russia, and SUVs are one of the most popular segments in the country’s market.