Peugeot negotiates joint production with Toyota

March 28, 2012 - 21:55 AMT

PanARMENIAN.Net - French auto giant PSA Peugeot Citroen is in talks with Toyota of Japan on joint production at its Sevelnord plant as its Italian partner there Fiat pulls out, union and other sources said Wednesday, March 28.

"PSA is talking to Toyota," a source close to the matter told AFP.

According to the agency, Ludovic Bouvier, a CGT union official, said however that "the only thing for sure is that (the talks) are with an Asian (group)" sufficiently strong to keep the site in northeastern France going.

Peugeot has had talks with Mitsubishi and then Toyota, he said, adding that the latter is a more likely partner. An announcement is expected in June.

Another union official said the logic of such a tie-up seemed clear, given Toyota's component makers around its own plant in nearby Valenciennes.

Peugeot and Mitsubishi declined to comment while Toyota officials were not immediately available.

Peugeot has had a partnership with Toyota in the Czech Republic since 2002. Fiat is to leave Sevelnord in 2017.

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