Peugeot launches jointventure to build cars in Algeria

Peugeot maker PSA Group signed a joint venture (JV) agreement with three Algerian partners on Sunday to build cars in the North African country. The French carmaker said it would invest about ^100 million ($117 million), equalling 49 per cent of the JV’s capital. The JV will set up a plant in the western Algerian city of Oran, where French automaker Renault opened a plant in 2014. REUTERS<