Takashi Nishioka, Chairman of Mitsubishi Motors Corporation and Jean-Martin Folz, Chairman of PSA Peugeot Citroën, today signed a letter of intent for a partnership that covers new 4 × 4 vehicles. The final agreement will be signed in spring 2005.
This agreement provides for the annual production in Japan of 30 vehicles for the needs of PSA Peugeot Citroën, on the basis of a new Mitsubishi platform currently under development.
Launched in 2007, these new 4 × 4s will feature specific styles for Peugeot and Citroën. They will be fitted with the 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 are aimed at a new clientele, mainly in 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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