Groupe PSA and the Namibian government have signed an investment agreement facilitating the joint-venture agreement between Groupe PSA and Namibia Development Corporation (NDC) to assemble PEUGEOT vehicles in Walvis Bay.
Assembly will start in H2 2018 with an annual targeted volume of 5,000 units by 2020 to meet the SACU* countries market demand.
The PEUGEOT 3008 SUV will be the first output from this factory, other products will follow to meet customer demand.
This agreement is part of the strategic profitable growth plan, "Push to Pass", aiming to satisfy customer expectations in all the regions in which the Group operates. It materializes Groupe PSA’s ambition to develop internationally by directly producing 70% of the vehicles sold in the region within Middle East and Africa.
Executive Vice President for Middle East and Africa Region at Groupe PSA, Jean-Christophe QUEMARD declares: "This investment in Namibia is part of Groupe PSA’s long-term strategy to increase its sales in Africa and the Middle East, which is consistent with our target to sell one million vehicles in 2025. This new capacity will serve regional markets with products in line with our Peugeot customer expectation”.
On a local level Managing Director of Peugeot Citroën South Africa said: “We are extremely proud of the investment into Africa by PSA. Peugeot has a long standing heritage in Africa and this is a continuation of our commitment and efforts to reach new heights for the brand”.
The assembly plant will result in time in greater production capacity for the South African market and will ensure that Peugeot remains competitive in the local market.