New vehicle for growth
Fiat, PSA Peugeot Citroën and Tofas recently signed an agreement to develop and produce small, entry-level light commercial vehicles for the European market.
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recently signed an agreement to develop and produce small, entry-level light commercial vehicles which are scheduled for rollout in 2008.
Total investment, including research and development and production start-up costs, is estimated at roughly €350 million.
The co-operative agreement has been made in response to anticipated changes in the entry-level segment of the European light commercial vehicle market. Consequently, PSA Peugeot Citroën, Fiat and Tofas will introduce a small vehicle concept to extend their current commercial vehicle range.
Tofas will be in charge of co-ordinating the development and production of the new vehicles at its plant in
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