Jean-Martin Folz, CEO of PSA Peugeot Citroën, and Fujio Cho, President of Toyota Motor Corporation celebrated in Geneva today a major step in their successful collaboration, as the first production models of the Peugeot 107, Toyota Aygo and Citroën C1 rolled off the assembly line at Toyota Peugeot Citroën Automobile (TPCA) in Kolín, Czech Republic.
PSA Peugeot Citroën and Toyota joined forces to design, develop and produce the attractive compact cars, which are equipped with the most advanced technologies, to satisfy growing demand across Europe. Put on display in Geneva on the eve of the Geneva Motor Show, the Peugeot 107, Toyota Aygo and
Citroën C1 are modern, four-passenger compact cars that are stylish and especially maneuverable in cities. They feature body styles that reflect each brand's personality, but they share a large number of structural components and parts. Outfitted with the latest-generation engines and transmissions, they also deliver outstanding handling and responsiveness.
Both groups pooled their expertise to create cars that are affordable and economical. The Peugeot 107, Toyota Aygo and Citroën C1, which are scheduled for sales launches later this year, will be three of the most fuel-efficient, environmentally friendly and safe cars on the market. In addition, they
will rank among the best in their category in terms of passive safety.
"In Europe, demand is emerging for affordable compact cars," JM Folz said at today's display. "The niche is still underdeveloped but is expected to enjoy sustained growth in the years ahead. This cooperation between independent carmakers has provided a fast, cost-efficient response to market demand through
the sharing of expertise and experience."
"Our different approaches have benefited our joint venture enormously," said Mr. Cho. "Our venture is a successful showcase of industrial cooperation."
The recently built TPCA plant will have an annual capacity of 300,000 vehicles — 200,000 for Peugeot and Citroën and 100,000 for Toyota. The project is expected to contribute to the local community in terms of both direct and indirect employment, with direct employment alone accounting for nearly 3,000 hires.