PSA and Mitsubishi signed a new partnership
They had first announced, they did. On the occasion of the Auto Show that was held last March in Geneva, PSA and Mitsubishi have confirmed that they would continue their industrial cooperation, aun when they abandoned their capital project alliance. On Tuesday, on the sidelines of the results of Mitsubishi, the two automakers announced they would jointly develop a compact 4×4 model, which will be marketed in Europe in 2012.
This vehicle is available in four-wheel and two wheel drive, and will be based on an existing model from Mitsubishi, RVR known in Japan and ASX in Europe, which will be suitable for Peugeot and Citroen brands, say the two groups said in a statement. Finally, the vehicle will be equipped with a diesel 1.6 Di Peugeot Citroen.50,000 vehicles per year and brand should be built.
The statement said that it is the fourth cooperation between PSA and Mitsubishi, after the agreement on the manufacture of all-terrain vehicles and electric, and the inauguration of a joint plant in Russia.
Mitsubishi also presented its annual results this morning. The Japanese carmaker is ironed green during the 2009-2010 fiscal year completed in late March, registering a net profit of 4.7 billion yen, or 36 million euros. It provides an increase of 31.4% of its turnover for 2010-2011.