Shanghai, February 25 (Gasgoo.com) PSA Peugeot Citroen's new automotive technical and styling center (TASC) in Shanghai will roll out a world car in the coming three years and plans to put it on sale in the global markets, local media reported today.

PSA Peugeot Citroen group has recently put into operation its technical and styling center (TASC) in Shanghai. More than 20 newly recruited designers and stylers in the styling unit have started the research and development of several design projects, said xinhuanet.com today.

Dongfeng Citroen will build an A-class sedan cooperatively with PSA, said Yves Moulin, managing director of Dongfeng Citroen, at the press briefing of C-Quatre VTS, xinhuanet.com said today.

PSA Dongfeng Peugeot Citroen Automobile Co, a joint venture between Dongfeng Motor Corp and PSA Peugeot Citroen, plans to lay off more than 1,000 employees starting next month, Shanghai-based Oriental Morning Post reported, citing company sources.

French carmaker PSA Peugeot Citroen Group announced yesterday that its sales revenue slumped in the third quarter, with registered models in China fell by 6% while still posting large increase in Russia and South America, Beijing News reported today.