Peugeot-Citroen to form an alliance with Mitsubishi ?
The French and the Japanese have gotten together to form a strong partnership once already with the Nissan Renault alliance. Now it’s looking like other carmakers may be attempting to replicate this success. PSA Peugeot-Citro?n is reportedly on the verge of purchasing a controlling stake (somewhere between 30 and 53 percent) in Mitsubishi Motors.
insider source told that PSA Peugeot Citroen’s plan to enter a “strategic partnership” with Japan’s Mitsubishi .
The Nikkei business daily reported Peugeot could pay up to 300 billion yen ($3.4 billion) for a stake of up to 50 percent.
in return Mitsubishi will buy 18% stake in PSA group.
The two firms already cooperate to a degree, sharing SUV platforms, and are in the process of building an assembly facility in Russia to manufacture Peugeot, Citroen, and Mitsubishi mid-sized cars and SUVs. In addition, Mitsubushi and Peugeot have agreed to develop a car based on Mitsubishi’s i-MiEV car, which is to be sold in Europe under the Peugeot and Citroen nameplates by the end of 2010.
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