Fleet News

Firms in €350m vans deal

FIAT, PSA Peugeot Citroen and Turkish car firm Tofas have signed a co-operation agreement to develop and produce small vans.

Scheduled for production in 2008, the new vehicles will extend the current Fiat, Peugeot and Citroen product ranges.

The vehicles will be produced at Tofas' plant in Bursa, Turkey. The group plans to build 135,000 cars a year, with two-thirds for PSA Peugeot Citroen and a third for Fiat, including Tofas. Total investment, including research and development and production start-up costs, is estimated at €350 million.

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