Mitsubishi Motors Corp. says an equity swap with PSA Peugeot Citroen “may come naturally” as the two companies expand their joint ventures.
MMC President Osamu Masuko tells Bloomberg News that PSA as a “good partner” and notes the two companies have succeeded in three joint ventures already. In December the companies said they were holding talks about new joint vehicle development programs and that PSA might take an equity stake in the Japanese company.
But Masuko strongly denies media reports that the partners have discussed PSA buying a controlling stake in MMC. “We have never talked about the specific stake, Masuko insists. He adds that MMC could use PSA’s help in developing hybrids and diesels to help it meet European emission standards.