Toyota Motor Corporation (TMC) and Groupe PSA (PSA) announced the next chapter of their successful and mutually beneficial long-term partnership in the European market.
From end 2019, PSA will expand the range of commercial vehicles supplied to Toyota Motor Europe NV/SA (TME) for sale in Europe under the Toyota brand by supplying TME with a C-Van from its Vigo plant (Spain).
From January 2021, Toyota will take financial ownership of the Toyota Peugeot Citroën Automobile Czech s.r.o. (TPCA) plant in Kolin (Czech Republic), the manufacturing joint venture that produces the compact A-segment models12.
The plant will become a subsidiary of TME, joining the seven other plants Toyota already operates in Europe.
The Kolin plant will continue to produce the current generation compact A-segment models for the two companies.
TMC Executive Vice-President Didier Leroy said: “Today’s announcement reflects the complementarity and excellent relationship that exists between Groupe PSA and Toyota. Our agreement allows each company to play to its strength while sharing technology and development costs. Our commitment to the Kolin plant demonstrates Toyota’s philosophy of producing cars where we sell them and our long-term manufacturing presence in Europe.”
PSA and TME started their collaboration on mid-size light-commercial vehicles in 2012, with the Toyota PROACE produced at Groupe PSA’s Hordain plant, France.
The TPCA joint venture was created by PSA and TMC in 2002 and included a review clause that allowed each partner to reconsider their shareholding.
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