PSA: creates joint venture in Namibia
(CercleFinance.com) - The PSA Group and the Namibian government have signed an investment agreement to establish a joint venture with Namibia Development Corporation (NDC) to assemble Opel and Peugeot vehicles in Walvis Bay, starting in the second half of 2018, we learned this Monday.
An annual volume of 5,000 vehicles is expected in 2020 to meet Southern African Custom Union (SACU) market demands, which, in addition to Namibia, includes South Africa, Botswana, Lesotho and Swaziland.
Production will begin with Opel GrandlandX and Peugeot 3008. Other models will follow to meet demand from clients.
This agreement is part of the strategic plan for profitable growth entitled "Push to Pass," and is part of the carmaker's desire to expand internationally by directly producing 70% of vehicles sold in the Middle East and Africa region.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
An annual volume of 5,000 vehicles is expected in 2020 to meet Southern African Custom Union (SACU) market demands, which, in addition to Namibia, includes South Africa, Botswana, Lesotho and Swaziland.
Production will begin with Opel GrandlandX and Peugeot 3008. Other models will follow to meet demand from clients.
This agreement is part of the strategic plan for profitable growth entitled "Push to Pass," and is part of the carmaker's desire to expand internationally by directly producing 70% of vehicles sold in the Middle East and Africa region.
Copyright (c) 2018 CercleFinance.com. All rights reserved.