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 provides novel × 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, the new 4 4 × will have specific designs for Peugeot and Citroen. They will be equipped with the latest HDi diesel engines with particle filter of PSA Peugeot Citroën.
For PSA Peugeot Citroën, the 4 4 × will expand the ranges of both Peugeot and Citroën brands. These models target new customers, mostly in European markets.
For Mitsubishi Motors, the additional volume of production will enable the group to increase its utilization rate of industrial capacity and improve productivity.
This project will initially involve the European markets but the two groups are also considering the possibility of providing other areas and expand their partnership.
With this cooperation, Mitsubishi Motors Corporation and PSA Peugeot Citroën pursue a win - win strategy between equal partners.
PSA Peugeot Citroën
Hugues Dufour / Isabelle Cros
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