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Is Peugeot-Citroën on the verge of buying Mitsubishi?

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NewsFeeder    9

Filed under: Hirings/Firings/Layoffs, Mitsubishi, Earnings/Financials, Peugeot, Citroën

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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.

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balthazar    1,876

3 Billion ??? More like 3 Million, IMO. Bad rep, poor sales, irrevelency in the market... electric vehicle experience (to what degree I am unaware) would be the only plus. Taking all that into consideration, just buy the elec tech or develop their own and avoid the rest of the mess.

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PONTIAC06    22

I think Mitsubishi is fairly successful w/ electric tech in the JDM. Their defficiencies in the US market would be easily fixed if they had a larger pocketbook to fund new vehicles.

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