PSA, Toyota close to deal on Sevelnord plant, report says
PARIS (Reuters) -- Toyota is close to an agreement to purchase light commercial vans from PSA/Peugeot-Citroen's threatened Sevelnord plant in northern France, La Tribune reported.
Under the agreement, Toyota would buy between 5,000 and 10,000 vans annually starting in 2013, rebadged with its own brand, the French weekly said on Thursday, citing unnamed sources.
PSA declined to comment on the report.
The French company last week announced 8,000 job cuts and the closure of another French plant but said it was hopeful that Sevelnord, a joint venture with Fiat, would survive the Italian automaker's planned withdrawal.
Fiat has already made clear it plans to exit the partnership, which makes light commercial vehicles. PSA also produces the Peugeot 807 and Citroen C8 large minivans at the plant.
Sevelnord's future depends on finding a new partner and obtaining concessions from unions, among other conditions, manufacturing chief Denis Martin said on July 12.
While still in office, former French President Nicolas Sarkozy said in April that PSA and Toyota were in talks to share production at the Sevelnord site after Fiat's exit.
Automotive News Europe contributed to this reportContact Automotive News