China Knowledge cited Mr Jean-Marc Gales a senior official from the company as saying that France car maker PSA Peugeot Citroen, the second-largest automaker in Europe after Volkswagen AG is expected to announce plans to set up a joint venture with Changan Automobile Co Ltd tomorrow.The establishment of the new JV, the second one the auto giant has in China is part of the company effort to expand in the fast growing market. Peugeot has already had a joint venture with China Dongfeng Motor Corp.Gales declined to disclose further details.Peugeot and Changan Automobile said in May that they had agreed to set up a 50:50 JV to produce environmentally-friendly passenger vehicles and light commercial vehicles.Peugeot said that its auto sales in China surged 49%YoY in the first half of this year a growth higher than the country average of 27%. The firm market share in China rose to 3.3% in the first six months.
