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PARIS, Nov 19 (Reuters) - French carmaker PSA Peugeot Citroen Chairman Jean-Martin Folz said on Wednesday the group aimed to reach full capacity at its Chinese plant in 18 to 24 months and to keep growing amid booming car sales in the world's most populous nation.
"Our aim is to reach capacity of 150,000 to 200,000 cars per year within 18 to 24 months," Folz told a news conference to mark the signing of an agreement with the University of Tsinghua in China. "We aim to keep growing with the Chinese market."
PSA, Europe's second-biggest carmaker, is present in China via a joint venture with Dongfeng Motor.
The company has said it aims to boost sales in China by 29 percent this year, selling about 110,000 Citroen cars there. The market is expected to grow by about a third in 2003 to 1.5 million vehicles, then expand another 15 to 20 percent next year, it has said.