In 2001, the two groups signed a cooperation agreement concerning the joint development and production of small cars designed primarily for the European market, and badged by the Toyota, Peugeot and Citroën brands.
Production is scheduled to start in 2005 at the Toyota Peugeot Citroën Automobile (TPCA) plant in Kolin (Czech Republic), which will have a capacity of 300,000 vehicles/year. Toyota is in charge of development and production, while PSA Peugeot Citroën will be responsible for purchasing.
This project involves a total investment (Research and Development and industrial expenditure) of around €1.5 billion.
