President Uhuru Kenyatta announced the resumption of the assembling passenger vehicles by Peugeot group.The company is famous for its fabled 504 sedans and the 504 station wagon cars.
An assembly license agreement between Peugeot group and Urysia Limited, the local Peugeot agent, was signed.
Peugeot will assemble five models in Kenya — including the 508 and 3008 range — among the most recent of its range, which will meet the aspirations of Kenyans to have quality, modern and reliable vehicles at affordable prices.
Peugeot plans to move progressively from light assembly activities to more intensive activities, integrating more local share.
The PSA investment is a direct result of President Kenyatta’s state visit to France last year.
Similarly, the president’s state visit to Germany partly yielded the investment by Volkswagen in assembling its Polo Vivo range in Thika.
France has also completed the signing of financing for Ruiru II dam.