Changan-PSA, the joint venture of Changan Auto and PSA Peugeot Citroen, unveiled on Monday an official logo based on the abbreviation of its company name, CAPSA. The message and emblem were posted through Changan’s account on the microblogging site of weibo.com (weibo.com/ccag). We also learned that the JV’s official website, capsa.com.cn, will open soon.
Equally owned by the two sides, CAPSA was approved by the Chinese government on May 24, 2011. With 8.4 billion-Yuan initial investment, it aims to create a production capacity of 200,000 vehicles a year in Shenzhen, where it will be based, and take 3% of the Chinese auto market by 2015. Peugeot- and Citroen-brand cars will be made alongside those of a local brand yet to be launched.