Groupe PSA and ChangAn to Develop a New One-Ton Pick-up

Regulatory News:

Following the framework agreement signed last June 7^th, ChangAn Automobile and Groupe PSA (Paris:UG) go one step further today, signing an agreement to co-develop a new vehicle platform to be implemented in Ding Zhou ChangAn plant, dedicated to LCV¹s and to develop a new one-ton pick-up for both partners.

This new vehicle should meet the most stringent worldwide regulations and customers expectation with a very strong design and uncompromised quality and durability. At a first stage, the one-ton pick-up should be offered to Chinese customers and Groupe PSA overseas markets.

The LCV market represents 14 million vehicles worldwide in 2016, the one-ton pickup represents 18% of this market, with a yearly 5% increase worldwide.

Mr Patrice Lucas, EVP of Programs and Strategy at Groupe PSA commented: "This new product, which is complementary to the Peugeot pick-up recently launched in Africa, is in line with the core model strategy of Groupe PSA and will support our come back on this growing market segment. It will contribute to achieve the objectives set for the Push to Pass plan regarding LCVs with a target to increase volumes by 30% by 2018 and triple overseas volumes by 2021²”.

Mr Mingxue YUAN, EVP Cooperation and Strategy - ChangAn added: "This first common development for a new generation of one-ton pick-up is a great opportunity for both companies to hit markets in China and Overseas. It is a strong milestone in a long term cooperation between Groupe PSA and Chang’an.”

About Groupe PSA

The Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all client expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall, as well as a wide array of mobility and smart services under its Free2Move brand, aiming to become a great car maker and the preferred mobility provider. It is an early innovator in the field of autonomous and connected cars. It is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.
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¹ Light Commercial Vehicles
² Versus 2015

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