Mitsubishi Motors and PSA Peugeot Citroen Sign Cooperation Agreement on All-New SUVs.Tokyo, Japan, July 11, 2005 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Takashi Nishioka, Chairman of Mitsubishi Motors Mitsubishi Motors Corporation (三菱自動車工業株式会社 Corporation and Jean-Martin Folz Jean-Martin Folz (born January 11 1947, in Strasbourg, France) is a French businessman. He was the chairman and CEO of PSA Peugeot Citroën from 1997 to 2007. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of PSA (Professional Services Automation) An information system designed to organize, track and manage all opportunities, work, resources, costs, revenues and invoices to improve the productivity and efficiency of the workforce. Peugeot Citroen, today signed the final cooperation agreement between their two companies concerning all-new SUVs. The agreement plans the annual production in Japan of 30,000 units for PSA Peugeot Citroen's needs, based on a Mitsubishi Motors' platform currently under development. To be launched in Europe in 2007, the new high-end SUVs will be well equipped with top-of-the-line comfort, handling and safety features. The Peugeot and Citroen models will be powered by Mitsubishi Motors' newly developed gasoline engines with aluminum cylinder block and with PSA Peugeot Citroen's latest-generation HDi diesel engines equipped with particulate filters. These fuel-efficient, low emissions diesels will deliver remarkable environmental performance. In Japan, the Mitsubishi-branded model will be launched in autumn this year. In Europe, the models of the three brands Peugeot, Citroen and Mitsubishi (European version) will be unveiled at the 2007 Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. Auto Show. Designed with specific styles for Peugeot and Citroen, the new SUVs will broaden the Peugeot and Citroen product ranges and will enable the two brands to reach new customers by entering an expanding market segment. This project will target at European markets and countries where European-type cars are in circulation. For Mitsubishi Motors, the additional volume for PSA Peugeot Citroen will enable the company to raise capacity utilization rates Capacity utilization rate The percentage of the economy's total plant and equipment that is currently in production. Usually, a decrease in this percentage signals an economic slowdown, while an increase signals economic expansion. and to improve productivity. The company expects that this agreement would help accelerate the efforts to achieve the targets mapped out in the Mitsubishi Motors Revitalization Plan. With this cooperation, Mitsubishi Motors and PSA Peugeot Citroen pursue a "win-win" strategy between collaborative partners. Copyright [c] 2005 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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