PSA Peugeot Citroen says it is creating a Chinese joint venture with Changan Automobile Group to make small, low-emission vehicles.
The French carmaker said Thursday it is teaming up with the state-owned Chinese automaker for a 50-50 venture to produce "environmentally friendly light commercial vehicles and passenger cars."
A letter of intent has been signed, but details are still being discussed.
The deal won't compete with existing partnerships with other companies, Peugeot Citroen said.
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