PSA, Dongfeng will develop platform for compact cars
PSA Peugeot Citroen and China's Dongfeng Motor Group will jointly develop a platform for small cars for the Peugeot, Citroen, DS and Dongfeng brands.
The Common Modular Platform will underpin the next generation of compact and subcompact cars for the brands, PSA said in a statement on Sunday.
One year ago, Dongfeng took a 14 percent stake in PSA as part of a rescue package for the French automaker.
The companies will spend 200 million euros (1.7 billion yuan) on the project. PSA will contribute 60 percent of the expenditure, and Dongfeng will contribute 40 percent. A team of Dongfeng engineers will join the project team based at PSA's main r&d center in Velizy, south of Paris.
The platform will enable PSA and Dongfeng to manufacture vehicles in their respective growth markets, PSA said. PSA will benefit from Dongfeng's supplier base in China and southeast Asia.
The automakers also will build a joint technology center in Shanghai to develop cars for Asian markets.
One year ago, Dongfeng took a 14 percent stake in PSA as part of a rescue package for the French automaker.
The companies will spend 200 million euros (1.7 billion yuan) on the project. PSA will contribute 60 percent of the expenditure, and Dongfeng will contribute 40 percent. A team of Dongfeng engineers will join the project team based at PSA's main r&d center in Velizy, south of Paris.
The platform will enable PSA and Dongfeng to manufacture vehicles in their respective growth markets, PSA said. PSA will benefit from Dongfeng's supplier base in China and southeast Asia.
The automakers also will build a joint technology center in Shanghai to develop cars for Asian markets.
