PSA Peugeot Citroen considers expansion eastwards
PSA Peugeot Citroen is exploring the possibility of expanding the market for its range of vehicles into south-east Asia, according to reports.This week has seen Jean-Martin Folz, chief executive of PSA Peugeot Citroen, signing a letter of intent with Syed Zainal Abidin Bin Syed Mohamed Tahir, managing director of Malaysian carmaker Proton.
The letter affirms Peugeot's commitment to a study exploring the viability of a future collaboration between the automotive groups.
Among the potential benefits for Peugeot is the possibility of expanding sales across the Association of Southeast Asian Nations (ASEAN).
Greater global demand for Peugeot vehicles could encourage the firm to continue production of older models for longer, theoretically enabling motorists to buy vehicles that would otherwise have gone out of date.
Peugeot has had financial ties with the Citroen brand for over 30 years.
In 1974, Peugeot bought a part-share in its French rival before completing a takeover in 1975.
PSA Peugeot Citroen now has the rights to sell both Peugeots and Citroens in the ASEAN region and elsewhere.
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