PSA Peugeot-Citroën already sells its wares in China and has a joint-venture with Dongfeng, but has now added another joint venture partner in a €395 million ($499M U.S.) 50-50 tie-up with Chang'an Automobile Group. The union will eventually have cars like the Citroën DS3 and the company's engines and light trucks built in the country, using two current Chang'an factories, renovating one more and building another.
Chang'an Motor Corp (Ford and Suzuki's Chinese partner with a cool Star Trek-slyle logo) will build a gasoline-electric hybrid for the Chinese market (and possibly overseas) by 2008. The company said it hopes the hybrids will make up 10 percent of it's sales by 2010. The company will invest about $31 million as part of its $620 million investment in its own-brand cars. Chang'an's announcement comes after other automakers – Toyota and Geely Automobile – said they would bring hybrids t
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