2024 Author: Eric Donovan | [email protected]. Last modified: 2023-12-16 21:13
After joint vehicles, the Japanese carmaker and its French competitor now want to do business more closely. Both companies are not considered to be particularly profitable.
The French car maker PSA Peugeot Citroen wants to invest in the Japanese competitor Mitsubishi. A spokesman for Mitsubishi Motors confirmed ongoing discussions about an equity stake. This is one of several options that Peugeot is talking about. According to information from the Japanese business newspaper “Nikkei”, the two groups are negotiating a stake of 30 to 50 percent for the French in the sixth largest Japanese car manufacturer, which is struggling with problems.
Competencies in the electric car
For Peugeot Citroen, a stake in Mitsubishi Motors would have the advantage of benefiting from Mitsubishi's expertise in electric cars as well as from the Japanese company's business network in emerging markets. According to «Nikkei», the negotiations are already in the final phase. Accordingly, it is likely that Mitsubishi will issue new shares with a volume of 200 to 300 billion yen (1.5 to 2.3 billion euros), which means that the French would have a stake of between 30 and 50 percent in the Japanese car maker it.
Second try
For Mitsubishi Motors it would be the second attempt to improve its financial situation with the help of a foreign automobile company. In 2000, the then badly ailing Japanese company obtained support from DaimlerChrysler. The Germans took a 34 percent stake in the Japanese at the time, but stopped their financial aid in 2004 and ended business relations a year later. (dpa)
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