Reported By:| Edited By: |Source: Reuters |Updated: Mar 30, 2018, 02:53 AM IST
PSA Peugeot and the parent of Chongqing Changan Automobile Co have signed an initial agreement to set up a 50-50 vehicle manufacturing joint venture in China, a Changan Group executive said on Thursday.
The venture will make light commercial vehicles and cars, the executive told Reuters.
The executive said financial details of the agreement were not available.