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Sino-French DPCA plans Peugeot assembly in Vietnam

Xinhua, May 20, 2015 Adjust font size:

French carmaker PSA Peugeot Citroen's Chinese joint venture is planning to start assembling a Peugeot SUV model in Vietnam, the company told Xinhua Wednesday, in the latest move to tap into the rising car market of Southeast Asia.

Dongfeng Peugeot Citroen Automobile (DPCA), a joint venture of PSA and Chinese automaker Dongfeng Motor Corporation, is aiming to start assembling Peugeot 3008 compact SUVs in Vietnam this year in cooperation with local carmaker THACO Group, a DPCA spokesman said.

It marks a fresh attempt by PSA and Dongfeng to expand their presence in Southeast Asia, which is expected to overtake Japan to become the world's fifth-largest vehicle market this year.

DPCA had previously said it planned to build a new auto plant in Southeast Asia, and the company has set a target of selling 100,000 cars in the region annually by 2020.

DPCA currently has three plants in Wuhan, capital of central China's Hubei Province, where Dongfeng is headquartered, and is building its fourth factory in Sichuan Province.

Industry observers say Southeast Asia is an important overseas destination for PSA and Dongfeng as both are eyeing expansion outside the saturated auto market of Europe and China, where car sales have slowed in recent years. Endi