Mitsubishi Motors and PSA Peugeot Citroën to set up joint venture in Russia
Tuesday, May 20th, 2008 
Mitsubishi Motors and PSA Peugeot Citroën of France said Monday that they would set up a joint venture in Russia to produce cars starting in 2011. The factory in Kaluga, located 180 kilometers, or 110 miles, southwest of Moscow, will produce midrange sport utility vehicles for the Mitsubishi, Peugeot and Citroën brands, as well as midsize Peugeot and Citroën vehicles, with an overall capacity of 160,000 vehicles.
Production is due to start in 2011, the companies said. The two automakers had separate deals with the Russian government granting them financial incentives to assemble cars in the country, and had said they were open to joining hands with undisclosed partners.
