Cooperation between Changan and PSA gains government approval

Gasgoo.com (Shanghai June 1) - Cooperation between Chongqing Changan Automobile and international giant PSA Peugeot Citroën has gained the National Development and Reform Commission's approval last week, 21cbh.com reported today. Officials within PSA said that although they believed the deal would go through, they were surprised at the speed with which the NRC gave its approval.

Changan and PSA signed a cooperation agreement last July and have been awaiting the NRC's approval ever since. The two manufacturers have been waiting for a clear sign of government support before commencing bilateral cooperation on a slew of projects, including building a new jointly-owned production site.

PSA will not only be in contact with its Chinese partner, but must also work with the government as well. Grégoire Olivier, a senior executive in the manufacturer's Asian division, told reporters he has recently met with the country's Minister of Commerce Chen Deming. Mr. Olivier confirmed that there were no large obstacles standing in the way to cooperation with Changan.