Groupe PSA and ChangAn Automobile Reinforce Their Cooperation to Strengthen CAPSA JV Operation
08 Juni 2017 - 7:52AM
Business Wire
- Boost DS brand development in China
and Asia Pacific with one launch per year from 2018
- Enhance joint developments and
manufacturing of products and technologies, with New Energy
Vehicles to be considered by both partners
Regulatory News:
On June 7th ChangAn Motor and Groupe PSA (Paris:UG) signed an
in-depth strategic cooperation agreement to further deepen their
cooperation started 6 years ago to establish DS premium brand in
China.
Boost DS brand in China and Asia Pacific
CAPSA will benefit from the DS ambitious product planning which
will consist in launching one new DS product to the Chinese market
each year from 2018 onwards. In addition, state of the art
technologies will be available for DS product range including PHEV1
and a first BEV2, expected to be launched in 2019.
Groupe PSA will set-up in Shenzhen its DS brand Headquarter for
China, Asia Pacific in order to develop synergies on a daily basis
with CAPSA in the management of operations in China and to develop
exports in the region.
Strengthen CAPSA operations and explore further
cooperation
Both partners have decided to enhance global production at
Shenzhen plant to leverage its excellent quality and raise the
utilization rate beyond DS line-up, and will execute the alignment
between Presidents to have on the short term more SUV and Sedan
vehicles produced in Shenzhen plant.
The agreement will also enable both parent companies to
strengthen cooperation on joint development of vehicle platform,
new energy vehicles, traditional powertrains, intelligent
connectivity, overseas operations. Both partners will execute the
decision concerning LCV3 cooperation, with a “pick-up” in the short
term.
Shared investment between CAPSA shareholders
This ambitious development Plan of CAPSA will be supported by a
strong equally shared investment in equity of both ChangAn and
Groupe PSA amounting to 3.6 BRMB (€ 500 m) over 2017.
“This agreement will give a new impetus to the DS brand in China
and in Asia pacific and is a clear demonstration of the willingness
to strengthen cooperation between the two companies in a
constructive spirit” said Mr. Denis Martin, EVP China and ASEAN
region of Groupe PSA.
Mr. Wang Kun, the vice president of ChangAn Automobile
commented: “ChangAn Automobile will work together with Groupe PSA
to strengthen the resource investment to CAPSA, unswervingly
develop DS as a premium brand, speed up the product launch and set
the position of CAPSA as the center of DS in Asia Pacific.”
About Groupe PSA
With sales and revenue of €54 billion in 2016, the Groupe
PSA designs unique automotive experiences and delivers mobility
solutions that provide freedom and enjoyment to customers around
the world. The Group has three car brands, Peugeot, Citroën and DS,
as well as a wide array of mobility and smart services under its
Free2Move brand, to meet the evolving needs and expectations of
automobile users. The automobile manufacturer PSA is the European
leader in terms of CO2 emissions, with average emissions of
102.4 grams per kilometre in 2016, and an early innovator in
the field of autonomous and connected cars, with 2.3 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.
Media library: https://medialibrary.groupe-psa.com/ / Twitter:
@GroupePSA
1 Plug-in Hybrid Electric Vehicle2 Battery Electric Vehicle3
Light Commercial Vehicles
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