Dec. 20, 2001
PSA PEUGEOT CITROEN
Toyota Motor Corporation and PSA Peugeot Citroën
Select the Site of Their Joint-Venture Small-Car Plant in the Czech Republic
20th December, 2001. Toyota Motor Corporation and PSA Peugeot Citroën selected the site of their joint-production small-car plant in Kolin, Czech Republic, 60 kilometres east of Prague.
The new plant, which is scheduled to begin operation in 2005, will build 1.0-litre gasoline and 1.4-litre diesel-powered vehicles and have an annual production capacity of 300,000 units. Toyota and PSA Peugeot Citroën selected Kolin because it offers, among others, the following advantages:
The two groups have announced their selection to the Czech authorities, and the plant's construction is expected to start soon after Toyota and PSA Peugeot Citroën have signed (following official company approval) the joint venture contracts in the early days of January 2002.
The plant is the result of a joint memorandum and agreement signed on 12th July, 2001, by Toyota Motor Corporation President Fujio Cho and PSA Peugeot Citroën CEO Jean-Martin Folz outlining the joint development and production of small, entry-level passenger vehicles primarily targeting European markets. Both companies see growing demand for such cars in Europe, and the new-platform vehicles to be built in the Czech Republic will be marketed under the Toyota, Peugeot and Citroën brands.
Total investment for this 50/50 joint venture, including research, development and business start-up costs, is estimated at approximately Euro:1.5 billion.
The new plant, which is scheduled to begin operation in 2005, will build 1.0-litre gasoline and 1.4-litre diesel-powered vehicles and have an annual production capacity of 300,000 units. Toyota and PSA Peugeot Citroën selected Kolin because it offers, among others, the following advantages:
- A privileged location in the heart of Europe
- Proximity to major markets
- Top-ranking industrial expertise
- 120 hectares enjoying good accessibility in terms of transport and infrastructure, as well as an equally large site available nearby for component manufacturers.
The two groups have announced their selection to the Czech authorities, and the plant's construction is expected to start soon after Toyota and PSA Peugeot Citroën have signed (following official company approval) the joint venture contracts in the early days of January 2002.
The plant is the result of a joint memorandum and agreement signed on 12th July, 2001, by Toyota Motor Corporation President Fujio Cho and PSA Peugeot Citroën CEO Jean-Martin Folz outlining the joint development and production of small, entry-level passenger vehicles primarily targeting European markets. Both companies see growing demand for such cars in Europe, and the new-platform vehicles to be built in the Czech Republic will be marketed under the Toyota, Peugeot and Citroën brands.
Total investment for this 50/50 joint venture, including research, development and business start-up costs, is estimated at approximately Euro:1.5 billion.
