Toyota Motor Corporation (TMC) and Groupe PSA (PSA) have announced the next chapter of their successful and mutually beneficial long-term partnership in the European market. Specifically, the companies have agreed the following:
From end 2019, PSA will expand the range of commercial vehicles supplied to Toyota Motor Europe NV/SA (TME) for sale in Europe under the Toyota brand by supplying TME with a C-Van from its Vigo plant (Spain).
PSA and TME started their collaboration on mid-size light-commercial vehicles in 2012, with the Toyota PROACE produced at Groupe PSA's Hordain plant, France.
The aim of the deepening collaboration is for both companies to use their respective strengths to offer both compact and mid-size light commercial vehicles in Europe, benefiting from development and production cost optimisation. Toyota will participate in the development and industrial investment costs for the future light-commercial vehicle.
From January 2021, Toyota will take financial ownership of the Toyota Peugeot Citroën Automobile Czech s.r.o. (TPCA) plant in Kolin (Czech Republic), the manufacturing joint venture that produces the compact A-segment models*.
The TPCA joint venture was created by PSA and TMC in 2002 and included a review clause that allowed each partner to reconsider their shareholding.
(Continued on the next page)
*Peugeot 108, Citroën C1, Toyota Aygo; Subject to the approval of all relevant competent authorities and legal requirements