BGN Entrepreneur

PSA Peugeot Citroen, which is Europe’s top selling carmaker after Volkswagen, aims to more than double its market share in China with a new joint venture that will see the French group produce Citroen DS premium cars and commercial vehicles for the world’s largest vehicle market.
Peugeot and Chang’an Automobile agreed to invest RMB 8.4 billion in the joint venture, which will be based in Shenzhen and have enough capacity to produce 200000 vehicles and engines. The joint venture will have its own dedicated car brand and will launch its first vehicle in 2012.

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