PSA Peugeot Citroen and Toyota have signed a deal that will see the French carmaker supplying light commercial vans to the Japanese giant to sell under its own brand in Europe.
Peugeot will provide medium-sized vans derived from its existing Peugeot Expert and Citroen Jumpy models in the second quarter of 2013, the carmakers say. The accord, which includes collaboration on future vehicles to be made by Peugeot, may extend beyond 2020, they said.
"The light commercial-vehicle segment is an important one for us in many markets throughout Europe,'' said Toyota Motor Europe chief executive officer Didier Leroy.
"We have found a good solution for our loyal customers following the recent discontinuation of our own Hiace model.''
The vans that Peugeot will supply to Toyota may be produced at the French plant of SevelNord, now operated under a joint venture with Fiat, said Pierre-Olivier Salmon, a spokesman at the Paris-based company.
Peugeot agreed to buy Fiat's stake in SevelNord factory by the end of this year.
"We need to fulfil three conditions in order to produce these vehicles: to undo the joint venture with Fiat, to find a new partner, which is now done, and to reach an agreement with SevelNord unions to increase the competitiveness of the factory,'' said Salmon. "We are confident.''