Japanese carmaker Toyota set to buy out French partner at Czech plant

Owners of the TPCA car factory in Kolín, central Bohemia, may soon be parting ways. PSA of France and Toyota of Japan have agreed to end production of small cars at the Czech site by 2021, the French daily Les Echos reports.

The car companies Toyota, Peugeot and Citroën formed the TPCA joint venture in 2002. The Japanese carmaker is expected to take over PSA's stake, but no final decision has been announced.

The TPCA plant in Kolín has an annual production capacity of 330,000 vehicles, a mark last achieved in 2009, before the global financial crisis. For this year, the plant is due to roll out only 200,000 cars.

Author: Brian Kenety