PSA Peugeot Citroen, a French automobile and motorcycle manufacturer, is planning to build its first factory in Russia, one of the fastest expanding markets in Europe.
The new plant will be established in the town of Kaluga, southwest of Moscow. The company will start the production by assembling mid-sized vehicles in 2010.
The French auto maker is in goal to have 100,000 vehicles sold in 2010. It hopes to sell three times of that annually in the following years.
Same as other global firms, may it be the maker of Acura Integra cold air intake filter among others; Peugeot Citroen will build their cars in a Russian plant to avoid heavy import duties for the Russian market, a lucrative market as correspondents regard it.
This year, around 2 million new cars were sold in the country. However, analysts say that low levels of ownership mean that there is room for rapid growth in demand.
Separately, Hyundai Motor Co., the world’s 6th largest auto maker, also plans to build a car factory in the county. The Japanese car maker is willing to invest 400 million dollars to establish the plant in St. Petersburg within the first half of 2008. It is also in goal to manufacturer 100,000 vehicles a year.
The new plant will be established in the town of Kaluga, southwest of Moscow. The company will start the production by assembling mid-sized vehicles in 2010.
The French auto maker is in goal to have 100,000 vehicles sold in 2010. It hopes to sell three times of that annually in the following years.
Same as other global firms, may it be the maker of Acura Integra cold air intake filter among others; Peugeot Citroen will build their cars in a Russian plant to avoid heavy import duties for the Russian market, a lucrative market as correspondents regard it.
This year, around 2 million new cars were sold in the country. However, analysts say that low levels of ownership mean that there is room for rapid growth in demand.
Separately, Hyundai Motor Co., the world’s 6th largest auto maker, also plans to build a car factory in the county. The Japanese car maker is willing to invest 400 million dollars to establish the plant in St. Petersburg within the first half of 2008. It is also in goal to manufacturer 100,000 vehicles a year.
