AFX reports that PSA Peugeot Citroen Group chairman Jean-Martin Folz has confirmed that the company is in talks with Mitsubishi Motors Corp, without providing further details.
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However, Folz reiterated to journalists that the company is not seeking a merger or acquisition but remains open to cooperation in the auto sector.
“It’s true, we’re in talks with Mitsubishi as with other groups,” Folz reportedly said adding he does not know when the talks will be concluded.
A Dow Jones report said that Folz wouldn’t say what type of cooperation is being discussed with Mitsubishi, but said it wouldn’t necessarily involve the four-wheel-drive vehicle that is absent from Peugeot-Citroen’s current model line-up.
“Mitsubishi has products that we don’t have, and we have products that they don’t have,” he said.
Folz said that Peugeot-Citroen hadn’t made an investment in developing a four-wheel drive vehicle up to now because the return on investment wasn’t sufficient.
“We wouldn’t do it unless we had a partner,” he said, according to Dow Jones.
