ChangAn Automobile and Groupe PSA signed an in-depth strategic cooperation agreement to further deepen their cooperation started 6 years ago to establish DS premium brand in China.
ChangAn Automobile and Groupe PSA will make an equally shared investment in the CAPASA JV of 3.6 billion RMB (€ 500 million) over 2017.
CAPSA will benefit from the DS ambitious product planning which will consist in launching one new DS product to the Chinese market each year from 2018 onwards. In addition, state of the art technologies will be available for DS product range including plug-in hybrid and a first all-electric vehicle, expected to be launched in 2019.
Groupe PSA will set-up in Shenzhen its DS brand Headquarter for China, Asia Pacific in order to develop synergies on a daily basis with CAPSA in the management of operations in China and to develop exports in the region.
Both partners have decided to enhance global production at Shenzhen plant to leverage its excellent quality and raise the utilization rate beyond DS line-up, and will execute the alignment between Presidents to have on the short term more SUV and Sedan vehicles produced in Shenzhen plant.
The agreement will also enable both parent companies to strengthen cooperation on joint development of vehicle platform, new energy vehicles, traditional powertrains, intelligent connectivity, overseas operations. Both partners will execute the decision concerning LCV cooperation, with a “pick-up” in the short term.