Today 09/27/2016 - 02:06:22 PM
Peugeot SA 13.135€
CAC 40 4,385.21 PTS
At a meeting today of the Works Council of PSA Peugeot Citroën's Rennes-La Janais plant, Denis Martin, Executive Vice President, Industrial Operations, and Gilles Le Borgne, Executive Vice President, Research and Development, announced a capital expenditure programme to support production of a new vehicle at the plant.
The €90-million investment will be dedicated to the production of a Peugeot badged C-segment vehicle that will replace the current Peugeot 5008.
The new model will be built on the EMP2 platform, which already cost €630 million to develop. It will begin to roll off the Rennes production line in mid-2016, before coming to market at year-end in Europe and the rest of the world.
Production volumes are expected to reach 70,000 units a year as from 2017, lifting the plant's total output to more than 100,000 vehicles a year at that time.
Commenting on the announcement, Mr Martin said: "I am particularly pleased today to confirm the decision to produce a new vehicle at the Rennes plant, as Philippe Varin promised in November 2012. The Group has made firm commitments as part of its new social contract, in particular as concerns the production of new vehicles in its French plants. We are demonstrating that these commitments are being met."