PSA Peugeot CitroŽn and Mitsubishi
Motors Corporation lay the first foundation stone of their joint
plant at Kaluga (Russia)
Kaluga — Roland Vardanega, Member
of the Managing Board and Executive Vice President,
Manufacturing and Components, of PSA Peugeot CitroŽn and Osamu
Masuko, President of Mitsubishi Motors Corporation (MMC) have
officially laid the first foundation stone of their joint plant
in Russia, located at Kaluga, 180km south-west of Moscow.
The ceremony took place in the
presence of Mr Anatoli Artamonov, Governor of the region of
Kaluga, and several hundred guests.
The joint plant held 70% by PSA
Peugeot CitroŽn and 30% by MMC will start producing mid-range (C
segment) models, as of 2011, for Peugeot and CitroŽn and
mid-range SUVs for the 3 brands. These models will be destined
for the Russian automobile market.
The annual production capacity of
the plant will be 160,000 units split 110,000 segment C vehicles
and 50,000 SUV. Over time, its capacity may be increased to
300,000 units to meet the expected growth of the Russian market.
The plant will employ about 3,000
people and the joint initial investment for the two partners
represents €470 million.
Didier Aleton of PSA Peugeot
CitroŽn, former Director of the Russia project, has been
appointed Managing Director of the new joint venture. He will
oversee the operational management of the project.