Underscoring its commitment to Latin America, PSA Peugeot Citroen announced on March 30 it will invest 135 million euros (US$200 million) in Argentina this year.
Director general for Argentina Osvaldo Banos said the plan for Argentina, which he discussed on March 29 with President Cristina Kirchner, calls for a new mid-range vehicle to be launched late this year, and for two new versions or vehicles already manufactured here.
The group employs 3,500 people at a facility in Buenos Aires province. It produced 134,780 vehicles in 2008. The industry hit a national record high 597,086 vehicles the same year.
"Latin America, and particularly Brazil, play a key role in achieving our goal of becoming a more global company," the PSA chief executive Philippe Varin said last week on announcing a 530 million euro investment for Brazil through 2012.
Copyright Agence France-Presse, 2010
