French automobiles manufacturer PSA Peugeot Citron is set to invest EUR90m in its Rennes-La Janais plant in France, to support the production of a new vehicle.
The investment will be used to porduce Peugeot branded C-segment vehicle that will replace the current Peugeot 5008.
The C-segment vehicle will be built on the EUR630m EMP2 platform, which will roll off the Rennes production line in mid-2016, before coming to market at year-end in Europe as well as globally.
PSA expects that the production volumes will reach 70,000 units annually as from 2017, lifting the plant's total output to more than 100,000 vehicles per year at that time.
PSA Peugeot Citron industrial operations executive vice president Denis Martin said: "The Group has made firm commitments as part of its new social contract, in particular as concerns the production of new vehicles in its French plants. We are demonstrating that these commitments are being met."
