Filed under: Hirings/Firings/Layoffs, Mitsubishi, Earnings/Financials, Peugeot, Citroën
The French and the Japanese have gotten together to form a magic partnership once already with Carlos Ghosn at the helm. The question is, then, can that success be replicated? PSA Peugeot–Citroën seems to hope so, and it is reportedly on the verge of purchasing a controlling stake (somewhere between 30 and 53 percent, depending on the report) in Mitsubishi Motors.
The total price for the acquisition would cost the European automaker over $3 billion and the deal would also include Mitsubishi acquiring a somewhat smaller stake in PSA Peugeot-Citroën – again, similar to the situation between France’s Renault and Japan’s Nissan.
So, what does Mitsubishi have that Peugeot wants? Three things, apparently: A presence in the States, SUV expertise and, perhaps most importantly, electric vehicle technology. If a deal does indeed take place, the resulting entity would be the sixth largest automaker by sales in the world.
[Source: BusinessWeek]
Is Peugeot-Citroën on the verge of buying Mitsubishi? originally appeared on Autoblog on Fri, 04 Dec 2009 15:59:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | Comments