Mitsubishi Motors and PSA Peugeot Citroen, have finalized a deal to place Mitsubishi’s electric engines into Peugeot’s vehicles, even though the Japanese manufacturer announced it had decided against a capital alliance with the 2nd largest Eurpoean car manufacturer just days ago.
Last year, both companies indicated interests in working with each other to help produce and supply a new car based on Mitsubishi’s i-MiEV electric vehicle for the European Market. This accord has now been confirmed with a signed agreement.
The agreement outlines Mitsubishi’s commitment to supply about 100,000 vehicles to the French group and will be sold under its Peugeot and Citroen brands within Europe. Production will commence in October 2010.
Although, Mitsubishi and Peugeot have ended talks last week to create the 6th largest auto alliance, they have also pledged to explore and broaden their current co-operation with each other for future endeavors.
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Jay WM Wong Editor
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