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Peugeot and Mitsubishi Motors seek deeper ties
Peugeot and Mitsubishi Motors seek deeper ties
Posted on Thursday, December 3rd, 2009 at 2:08 PM EST. (Employee News)
French carmaker PSA Peugeot Citroen could buy a large stake in Japanese peer Mitsubishi Motors Corp. as part of a plan to deepen ties to ride out the industry’s worst ever slump, Reuters reported.
The companies said on Thursday they were in talks to strengthen an existing relationship, which would create a leader in electric vehicles, with Mitsubishi, whose shares rose 13.4 percent, saying a capital tie-up was possible, the news service said. A spokesman for Peugeot, ranked eighth in the world by 2008 sales volume, would not comment on how long talks could last, Reuters said.
Peugeot will face increased competitive pressure from domestic rival Renault SA, which is looking to beef up its synergies with 10-year equity partner Nissan Motor, the article said. That Franco-Japanese alliance is looking to lead the industry in the unproven electric car segment, where Mitsubishi Motors is among the only players to have such a car on sale, the story said. (Reuters)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
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