Giancarlo Boschetti, Fiat Auto CEO, has just signed an outline agreement with PSA that extends the groups' cooperation in the light commercial vehicles (LCV) sector to 2017. Fiat Auto and PSA Peugeot Citroën have been cooperating in the development and production of commercial vehicles since 1978. The agreement defines future product development and industrialisation methods and also establishes economic and industrial objectives. During the new phase of cooperation, the two groups plan to invest around €1.7 billion in the production of two ranges of light commercial vehicles that will make their market debut after 2005.

These vehicles will be constructed at Val di Sangro in Italy (Sevel South), and at Valenciennes in France (Sevel North). Val di Sangro currently produces the two firms' medium van ranges - Fiat Ducato, Peugeot Boxer, Citroën Jumper - up to around 3.5 tonnes Gross Vehicle Weight (GVW). At Valenciennes, slightly smaller and lower payload vans are made - Fiat Scudo, Peugeot Expert, Citroën Jumpy - which share platform with the two groups' jointly developed MPVs.