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PSA Peugeot Citroen said Wednesday it was considering building cars in Russia
PSA Peugeot Citroen said Wednesday it was considering building cars in Russia, which would make it the latest foreign automotive concern to set up shop in the ex-communist country. The France-based carmaker, Europe's second largest, said in a statement that it was studying several options for a deal, including partnership agreements with Russian carmakers. The company, which opened a representative office in Moscow in 1992, said it had yet to make assessment of investment and capacities. Russia has recently become an attractive market for foreign carmakers, including Ford, which assembles its cars in the Leningrad Region town of Vsevolozhsk, Renault in Moscow and General Motors, BMW and Kia in Kaliningrad, Russia's European exclave on the Baltic Sea. This month Russia signed an agreement with Volkswagen AG to open a car-making plant in Russia. Japan's Nissan is also planning to launch production in Russia soon and SeverstalAvto, a major Russian automotive concern, has signed licensing agreements with Italy's FIAT, South Korea's Ssang Yong and Japan's Isuzu. AvtoVaz and General Motors are producing the Chevrolet Niva 4WD. Deputy Economic Development Minister Kirill Androsov said Monday the ministry was in talks with several major carmakers and that investment agreements could be signed prior to Russia's accession to the World Trade Organization, which officials say is likely in 2007.
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