Peugeot Citroen and Mitsubishi to join forces

LONDON - Peugeot Citroen is in talks with Mitsubishi Motors regarding a ‘strategic partnership'.

Peugeot Citroen and Mitsubishi to join forces

The car manufacturers already work together in the Russian market to develop electric cars and four-wheel drive vehicles.

It is thought that under the deal Peugeot would take a 50% stake in Mistubishi. The Japanese-owned car company may also take a stake in Peugeot.

Earlier this year, Mitsubishi reported losses of more than $400m for the first half of 2009.