PSA Group is Strengthening Its Assembly Activities for Peugeot Vehicles in Vietnam from 2017
22 Februar 2017 - 12:19PM
Business Wire
Regulatory News:
Today, PSA Group (Paris:UG) and its partner THACO (Truong Haï
Auto Corporation) have signed a contract to accelerate the
development of their activities in Vietnam by committing to local
assembly and bringing to market two new SUVs, to be produced in
THACO’s plant in Chulai (Quang Nam Province).
This new project of local assembly line will kick off in October
2017 and is aiming to cover the needs of the Vietnamese market for
volume of 27,000 units over the period 2017-2020.
The signing ceremony was held at the THACO headquarters in Ho
Chi Minh City, in the presence of Mr Tran Ba Duong, Chairman of
THACO Group, and Denis Martin, Executive Vice-President China and
ASEAN of PSA Group.
THACO Group, leader in the Vietnamese automobile market, is the
assembler, importer and distributor of the Peugeot brand in Vietnam
since 2014.
These two new SUVs will complement the current range composed of
the PEUGEOT 208, 3008 and 508. They will be the spearhead of a
modern range to position Peugeot as the best high end generalist
brand bringing the best of technology on the Vietnamese market.
This agreement is part of the strategic plan of profitable
growth "Push to Pass" and materializes the Group's ambition to
accelerate its development in ASEAN.
On this occasion, Tran Ba Duong, President of THACO, declared:
"After a first phase 2014-2016 marked by the return of the Peugeot
brand in Vietnam, this agreement materializes the acceleration of
our ambitions in the Vietnamese market. A dynamic Network
development plan will accompany the growth of the brand in Vietnam
by 2020.”
Denis Martin added: “The strengthening of our partnership in
Vietnam with THACO group is part of the Group's long-term strategy
to increase sales in South East Asia, a strategic region with
strong growth potential The development of our local production
capacities with THACO will allow us to aim for 5% market share in
Vietnam in 2020, a market that should rapidly exceed 300 000
vehicle per year.”
About PSA Group
With sales and revenue of €54 billion in 2015, the PSA
Group designs unique automotive experiences and delivers mobility
solutions that provide freedom and enjoyment to customers around
the world. The Group leverages the models from its three brands,
Peugeot, Citroën and DS, as well as a wide array of mobility and
smart services from its Free2Move brand, to meet the evolving needs
and expectations of automobile users. The French automobile
manufacturer PSA is the European leader in terms of CO2 emissions,
with average emissions of 102.4 grams of CO2 per
kilometer in 2016, and an early innovator in the field of
autonomous and connected cars, with 1.8 million such vehicles
worldwide. It is also involved in financing activities through
Banque PSA Finance and in automotive equipment via Faurecia. Find
out more at groupe-psa.com/en.
New media library:
https://medialibrary.groupe-psa.com/
Communications Division - www.groupe-psa.com -
+33 1 40 66 42 00 - @GroupePSA
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version on businesswire.com: http://www.businesswire.com/news/home/20170222005708/en/
PSA GroupMedia
Contact:Alain Le Gouguec, +33 1 40 66 58
54alain.legouguec@mpsa.com
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