What's all this about?

This is a story about three vehicles in one, as PSA Peugeot Citroen and Toyota Motor Europe (TME) have revealed the latest vehicle to be jointly developed by the companies. The Citroen Spacetourer, Peugeot Traveller and Toyota Proace will be made in MPV and commercial versions; expect to see all three at the Geneva Motor Show in March 2016.

What does that mean?

A collaboration agreement between the two companies was signed in 2012 and is planned to continue beyond 2020. Toyota and PSA worked together on the development of the vehicle and shared the investment costs. Production will take place at PSA Peugeot Citroen's plant in Valenciennes, France. Engines, technology and equipment levels will be common to all three versions.

Patrice Lucas, PSA Peugeot Citroen Head of Programme and Strategy, commented: "We are delighted to present today these three new vehicles, the result of the co-operation with Toyota Motor Europe. This agreement has enabled us to develop a new and efficient vehicle platform, offering our customers around the world modern products which are particularly competitive in their segment".

TME President and CEO, Johan van Zyl, added: "We're very pleased that the collaboration we started in 2012 with PSA Peugeot Citroen is now delivering a brand new generation Toyota PROACE. Both teams worked very hard together and at individual brand level and I am confident that our distinctive new van with all its variants will strengthen the Toyota light commercial vehicle offer in Europe. The new PROACE will complement the range of solid and durable vehicles customers are expecting from Toyota."

What about the van itself?

We'll have to wait until Geneva to find out about the respective models and when they are coming to the UK.