PUTRAJAYA: Malaysia’s Naza Corp Holdings and France’s Group PSA have inked a deal to jointly produce Group PSA-branded cars in Malaysia and Asean.
Both parties signed a share sales agreement and a joint venture agreement today to establish shared operations of the Naza Automotive Manufacturing (NAM) plant in Gurun, Kedah, which will be the first manufacturing hub in Asean for Group PSA.
The deal will see Group PSA holding a majority stake in NAM, and the Naza Group becoming the sole distributor of Peugeot, Citroen and DS Automobiles in the domestic market and potentially Asean.
The first vehicles to be rolled out under this collaboration will be the 3008 SUV this year, followed by the Citroen C5 Aircross in 2019.
NAM has a workforce of 450 people and boasts a 50,000-vehicle production capacity.
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