Toyota and Peugeot Citroën entered into an agreement for Toyota to rebadged PSA vans for the European market.
As a first step, starting in the second quarter of 2013, PSA Peugeot Citroën will supply Medium Size Vans derived from its existing vehicles Peugeot Expert and Citroën Dispatch. The agreement also includes collaboration on next generation vehicles which are to be produced by PSA Peugeot Citroën. The collaboration is expected to last beyond 2020.
The future of the plant was previously in doubt since Fiat sold their shareholding in the joint arrangement to PSA by the end of this year.
Under the plan, Toyota Motor Europe is to help with development and industrial investment costs for the next generation product. There are no plans for the two companies to enter into capital tie-ups or joint production.
‘The Light Commercial Vehicle segment is an important one for us in many markets throughout Europe,’ said Toyota Motor Europe President and CEO Didier Leroy. ‘By joining forces with PSA Peugeot Citroën, we have found a good solution for our loyal customers following the recent discontinuation of our own Hiace model.
The Scudo will continue to be manufactured at the plant until the end of 2016, when Fiat will, no doubt, have a replacement ready.by