Today 09/30/2016 - 05:35:16 PM
Peugeot SA 13.595€
CAC 40 4,448.26 PTS
PSA Peugeot Citroën and Dongfeng Group (DFG) held an event today in Shanghai to mark the first anniversary of their strategic partnership signed in March 2014. The event was attended by Carlos Tavares, Chairman of the PSA Peugeot Citroën Managing Board and Xu Ping, Chairman of DFG.
The two chairmen took advantage of the occasion to announce a project to jointly develop a global platform for the manufacture of B and C segment vehicles under the Peugeot, Citroën, DS and Dongfeng brands and to create a joint R&D centre based in Shanghai that will be dedicated to developing products and technologies for fast- growing Asian markets.
The new "Common Modular Platform" (CMP) will become PSA Peugeot Citroën and DFG's new generation platform for B and C segments. The project calls for capital expenditure of €200 million, of which 60% will be committed by PSA and 40% by DFG. A liaison team of DFG engineers will be located in Vélizy, within the main project team.
The new platform will enable PSA Peugeot Citroën and DFG to manufacture vehicles in their respective growth regions. In China and the ASEAN countries, PSA Peugeot Citroën will benefit in particular from DFG's supplier base expertise, which will make it possible to meet ambitious cost targets in highly competitive segments.
The Common Modular Platform will provide effective solutions in terms of modularity, versatility, equipment and carbon reduction.