With Toyota looking for a way to re-enter the light-commercial van segment in Europe after suspending sales of the HiAce and the PSA Peugeot Citroën group searching for a partner for its Sevelnord plant in northern France after the Fiat Group pulled out of a joint venture there, the two automakers took the decision to collaborate.
As part of the deal announced today, the French group will supply Toyota with light commercial vehicles for sale in Europe under its own brand, including the Peugeot Expert and Citroën Jumpy, starting from the second quarter of 2013.
The accord, which also includes collaboration on next generation vehicles to be produced by PSA Peugeot Citroën with Toyota participating in the development and industrial investment costs, is expected to go beyond 2020, the two companies stated.
“The Light Commercial Vehicle segment is an important one for us in many markets throughout Europe,” said Toyota Motor Europe President and CEO Didier Leroy. “By joining forces with PSA Peugeot Citroën, we have found a good solution for our loyal customers following the recent discontinuation of our own Hiace model.”
PSA Peugeot Citroën and Toyota, which also produce a trio of small city cars named the Citroen C1, Peugeot 107 and Toyota Aygo, noted that they have no plans for to enter into capital tie-ups or joint production.
“We are delighted to announce today the enlargement of the scope of our successful cooperation with Toyota. This agreement launches the development of a new generation of mid-size Light Commercial Vehicle offering both companies a competitive product for the European market,” quoted Jean-Christophe Quémard, PSA Peugeot Citroën programmes executive vice president.
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