26.10.2004 Fiat Auto S.p.A., PSA Peugeot Citroën and Tofas - Turk Otomobil Fabrikasi A.S., today announced they have signed a letter of intent providing for the feasibility study of the development of a new light commercial vehicle

Fiat Auto S.p.A., PSA Peugeot Citroën and Tofas - Turk Otomobil Fabrikasi A.S., today announced they have signed a letter of intent providing for the feasibility study of the development of a new light commercial vehicle.

"This new model will be added on to the existing lines and will be manufactured at the Tofas plant in Bursa, Turkey", the brief statement added, before concluding that "Further details on the possible cooperation will be available after completion of the feasibility study."

Fiat already have a long running LCV joint venture with Peugeot-Citroen. Originally started in 1978, the programme includes the top-selling Ducato van, and the medium-size Scudo. In 2002 the two companies extended the successful joint venture until 2017.

Meanwhile Fiat have a rapidly growing manufacturing operation in Turkey. The Doblo, which is produced there, and is widely exported around most of Europe, is growing in stature.

Turkey, who harbour longer term ambitions to join the European Union, represent a platform for growth, along with lower labour costs. Tofas, are highly ambitious, and are seeking to rapidly extend their growing involvement with Fiat Auto.

Fiat already manufacture the light Doblo van in Turkey. They are keen to take further advantage of ideal local market conditions, and extend their relationship through Tofas at the same time.

Fiat have a long running Light Commercial Vehicle joint venture with the French Peugeot-Citroen carmaker. Originally started in 1978, the programme includes the top-selling Ducato van.