PSA offers to ramp up capacity for Toyota to win EU okay for Fiat deal: sources

FILE PHOTO: The logo of French car manufacturer Peugeot is seen at the 33th Auto Zurich Car Show in Zurich, Switzerland, Oct. 31, 2019. REUTERS/Arnd Wiegmann/File Photo

BRUSSELS/MILAN (Reuters) – French carmaker PSA PEUP.PA has offered to increase the production capacity for Japanese rival Toyota 7203.T in their joint venture in a bid to win EU antitrust okay for its Fiat FCHA.MI deal, people familiar with the matter said on Friday.

The aim is to sell some light commercial vehicle production capacity to Toyota, one of the sources said. Another source said PSA would sell the vans at close to margin prices.

The European Commission is worried that the deal may harm competition in small vans in 14 EU countries and Britain. The car makers earlier on Friday submitted their proposal to the EU competition enforcer.

Reporting by Foo Yun Chee in Brussels and Giulio Piovaccari in Milan

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