PARIS--(BUSINESS WIRE)--Regulatory News:
The PSA Group (Paris:UG) and URYSIA today signed a contract to assemble Peugeot brand vehicles in Kenya. This assembly project will begin in June 2017 with an annual volume of over 1,000 units in order to meet the expectations of the Kenyan market.
The signature ceremony took place at the Kenyan State House, the President's residence in Nairobi, in the presence of the President of Kenya, Uhuru Kenyatta, the French Minister for the Economy and Finance, Michel Sapin, Claude Mwende, CEO of URYSIA, and Jean-Christophe Quémard, Executive Vice-President for Middle East & Africa for the PSA Group.
URYSIA is the importer and distributor for the Peugeot brand in Kenya since 2010.
Production will start with the Peugeot 508, followed by the new Peugeot 3008 SUV.
This agreement is part of the strategic profitable growth plan, "Push to Pass" and materialises the PSA Group’s ambition to develop internationally.
On this occasion, Uhuru Kenyatta, the President of Kenya, said: "Peugeot cars have always been renowned for resilience, durability and reliability. We are proud to welcome them back home”, in reference to the assembly of Peugeot cars from 1974 to 2002.
Jean-Christophe Quémard added: "This investment in Kenya is part of the long term strategy of the PSA Group to increase its sales in Africa and the Middle East, with the aim to sell a million vehicles in 2025. These local production capacities will serve the region's markets and meet the expectations of our customers and the specific features of each country."
About PSA Group
With sales and revenue of €54 billion in 2015, the PSA Group designs unique automotive experiences and delivers mobility solutions that provide freedom and enjoyment to customers around the world. The Group leverages the models from its three brands, Peugeot, Citroën and DS, as well as a wide array of mobility and smart services from its Free2Move brand, to meet the evolving needs and expectations of automobile users. The french automobile manufacturer PSA is the European leader in terms of CO2 emissions, with average emissions of 104.4 grams of CO2 per kilometre in 2015, and an early innovator in the field of autonomous and connected cars, with 1.8 million such vehicles worldwide. It is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.
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