Peugeot picks Kaluga for new production site in Russia UPDATE |
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Thu, 27 Dec 2007 13:05
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(Updates with additional details)PARIS (Thomson Financial) - French car maker PSA Peugeot Citroen has selected the city of Kaluga, 180 km southwest of Moscow, as the location for its new Russian car plant, the company said.The factory is expected to begin production by 2010. Peugeot Citroen aims to sell 100,000 cars and light trucks in Russia by 2010, rising to 300,000 eventually, the company said.Peugeot Citroen plans to make middle-range cars of the size of the Citroen C4 and the Peugeot 308 for the local market at Kaluga.This range of vehicles accounts for nearly 60 pct of the Russian market, which is growing rapidly, Peugeot said.About 1.9 mln vehicles were sold last year in Russia, where the market is growing by between 20 and 30 pct a year, Peugeot said.Peugeot also said it is open to possible cooperation with Russian car makers. The company declined to reveal the size of its investment at KalugaPeugeot Citroen sold an estimated 40,000 vehicles in Russia this year, up from 27,000 in 2006. The car maker estimated its share of the Russian market in 2006 at 1.5 pct.greg.keller@thomson.comgk1/rfw/gk1/rwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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