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PSA Takes Control of Naza Assembly Plant in Malaysia
PSA Group has signed an equity deal with Malaysian conglomerate Naza Group to make and sell PSA-brand vehicles in southeastern Asia.
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PSA Group has signed an equity deal with Malaysian conglomerate Naza Group to make and sell PSA-brand vehicles in southeastern Asia.
The partners will begin building the Peugeot 3008 small crossover (pictured) in Gurun later this year. The factory will add the Citroen C5 Aircross small crossover in 2019. Naza’s website says the complex also makes cars for Kia Motors Corp.
PSA and Naza have partnered since 2008 in the local production of Peugeot cars. The expanded agreement gives PSA a 56% stake in Naza’s automotive manufacturing unit and 14-year-old assembly plant in Gurun, according to Reuters.
The news service says the partners hope to export 20,000 vehicles to other ASEAN markets in three years. Naza will be the sole distributor of Citroen, DS and Peugeot brand vehicles in Malaysia.
PSA says today’s agreement establishes the French company’s first manufacturing hub for the region, which represents 680 million potential customers.
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