Today 09/30/2016 - 05:35:16 PM
Peugeot SA 13.595€
CAC 40 4,448.26 PTS
On Saturday, 28 September 2013 in Shenzhen, Guangdong province, China, Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board, inaugurated the first plant to be operated by Changan PSA Automobile Co., Ltd. (CAPSA), the Group's joint venture with the Chinese manufacturer China Changan Automobile Group. This plant will give CAPSA capacity to build 200,000 vehicles per year.
The joint venture will also have its own R&D centre - construction started in July 2013 - in which CAPSA invests RMB 500 million. The centre's engineers will work closely with the China Tech Center, the Group's R&D centre in Shanghai.
The Shenzhen plant, world best in class for its compactness, high technology process and its Excellence Management System, will produce the Chinese version of the DS5, which was unveiled at the Chengdu Auto Show last 30 August. The new model will spearhead the DS brand's market offensive in China.
Since the brand's DS World flagship showroom opened its doors last March in Shanghai, the retail network is steadily expanding, to a total of 34 DS Stores as of 30 September. PSA Peugeot Citroën's objective is to open 18 more outlets by the end of the year in order to cover the main 40 cities in the country. Following the successive market launches of the imported DS5, DS4 and DS3, CAPSA is writing a new chapter in its history with the introduction of the locally produced DS5.