RUEIL-MALMAISON, France--(BUSINESS WIRE)--Regulatory News:
FCA Italy and Groupe PSA (Paris:UG) have signed an agreement to extend until 2023 their successful LCV cooperation, started 40 years ago.
The terms of this new agreement also include continued manufacture by the JV of Fiat Ducato, Peugeot Boxer and Citroën Jumper large vans as well as additional versions to cover the needs of Opel and Vauxhall brands.
In order to meet the expected increase in demand for FCA and Groupe PSA, both partners have decided to increase production capacity at Sevel from 2019 with potential additional shifts.
The agreement also foresees the complementary use of Groupe PSA manufacturing capacity to assemble certain versions of the large vans for the Peugeot, Citroën, Opel and Vauxhall brands in the medium-term.
The Sevel plant, inaugurated in 1981 in Val di Sangro (Atessa Italy), has a surface area of more than 1.2 million square meters and employs around 6,200 employees. It is the biggest and most flexible light commercial vehicle plant in Europe capable of producing vehicles in a large array of different configurations. Sevel is also one of the most advanced LCV plants in the world in terms of level of specialization, organization and work performance.
The plant also houses an on-site Academy, a center of excellence where employees have the opportunity to receive training and improve their skills, as well as to undertake simulations and create innovation.
Fiat Chrysler Automobiles (FCA) designs, engineers, manufactures and
sells vehicles and related parts and services, components and production
systems worldwide through 159 manufacturing facilities, 87 R&D centers,
and dealers and distributors in more than 140 countries.
Its stable of brands includes Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram, Maserati and Mopar, the parts and service brand. The Group’s businesses also include production systems, components and iron and castings. In addition, retail and dealer financing, leasing and rental services related to and in support of the Group’s car business are provided either through subsidiaries or financial partners (such as captive companies, affiliates, joint ventures with leading banks and/or financial institutions, and specialized providers).
FCA is listed on the New York Stock Exchange under the symbol “FCAU” and on the Mercato Telematico Azionario under the symbol “FCA”.
About Groupe PSA
Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia..