Toyota Motor Corp. and PSA Peugeot Citroen of France have informed the Polish government of their plan to build a factory in the country to jointly produce small cars primarily designed for European markets, the Polish Economy Ministry said Monday.
Managers of the joint project visited Economy Minister Janusz Steinhoff and presented locations being considered for the project.
The two companies signed a memorandum of understanding and an agreement for the project last month. Under the accord, production will begin in 2005 with a yearly output of 300,000 units.
Toyota already has a transmission systems factory in Walbrzych, southwest Poland.