Peugeot, Changan ink initial China joint venture deal

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.