Former type Joint venture Defunct 1991 Products Automobiles Ceased operations 1991 | Industry Automotive Website www.oltcit.ro Founded 1976 | |
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Abandoned oltcit club
Oltcit S.A. ([oltˈsit]) was an automobile manufacturer, established as a joint venture between the Romanian government (64%) and Citroën (36%). Their main product was the Oltcit Club / Citroën Axel hatchback, assembled in Craiova, Romania.
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History
In 1991, as a result of the withdrawal of Citroën from the joint venture, the name of the company was changed to Automobile Craiova and production continued under the Oltena brand.
In 1994, the company decided to go into partnership (49%-51%) with Korean company Daewoo Heavy Industries and Rodae Automobile was established, later renamed into Daewoo Automobile Romania.
In 2008, Ford of Europe, a division of Ford Motor Company, takes over the former factory Oltcit/Daewoo.
Name
The name "Oltcit" comes from the region of Oltenia in Romania, with "cit" being an abbreviation of Citroën. The Oltcit logo is also similar to the Citroën one, but features only one chevron, as opposed to the two found on Citroën's logo, plus the letter "O".