Takashi Nishioka, President of Mitsubishi Motors Corporation and Jean-Martin Folz, President of PSA Peugeot Citroën, today signed a letter of intent for a partnership involving new 4 × 4 vehicles. The final agreement will be signed in spring 2005.
This agreement provides for the annual production in Japan of 30 000 vehicles for the needs of PSA Peugeot Citroën, based on a new Mitsubishi platform currently under development.
Launched in 2007, these new 4 × 4 vehicles will have specific styles for Peugeot and for Citroën. They will be equipped with the very latest HDi diesel engines with particulate filter from PSA Peugeot Citroën.
For the PSA Peugeot Citroën group, these 4 × 4 will expand the ranges of the two brands Peugeot and Citroën. These models target new customers, mainly on European markets.
For Mitsubishi Motors, the additional production volume will allow the group to increase its capacity utilization rate and improve productivity.
This project will initially concern European markets but both groups are also considering the possibility of providing other areas and extending their partnership.
Thanks to this cooperation, Mitsubishi Motors Corporation and PSA Peugeot Citroën are pursuing a win - win strategy between equal partners.
PSA Peugeot Citroën
Hugues Dufour / Isabelle Cros
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