Mitsubishi announced a new joint venture with France’s PSA Peugeot Citroen to launch a new sports utility vehicle.
Mitsubishi, PSA tie-up for new SUV
The Japanese manufacturer said it had entered into a new partnership with PSA to launch a compact SUV in Europe by 2012. Available in four- and two-wheel drive, Mitsubishi will avail 50 000 units annually of the vehicle to the French group annually.
The two carmakers already have an agreement in play with Peugeot’s 4008 and the Citroen C-Crosser being sister models to the Mitsubishi Outlander. PSA will supply turbodiesel engines.
The revised agreement was announced on Tuesday when Mitsubishi announced its return to profitability. The carmaker’s global sales were down 10% on the previous year, with big markets North America and Europe taking hits. However, Asia sales were robust with the Chinese market recording a 64% increase.
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