>From Wards Auto, March 2005. Enjoy.
Hugo
PSA Limits Mitsubishi Relationship; Vows U.S. Return
By Kevin Kelly
WardsAuto.com, Mar 2 2005
The French auto maker says while it does plan to return to North
America in the long term, it will not do so utilizing Mitsubishi's
Normal, IL, plant, nor its retail network, as rumored.
GENEVA – PSA Peugeot Citroen says it has no plans to expand its
relationship with ailing Japanese auto maker Mitsubishi Motors Corp.
beyond their SUV partnership announced last month.(See related
story: Growing SUV Market Drives PSA to Mitsubishi)
The French auto maker says while it does plan to return to North
America in the long term, it will not do so utilizing Mitsubishi's
Normal, IL, plant, nor its retail network, as rumored. The vision is
for PSA to develop its own independent infrastructure, while
avoiding complicated alliances or acquisitions.
"The question is not looking for a plant, but do we have the
products (to enter the U.S. market)," PSA Chairman Jean-Martin Folz
tells Ward's.
"We need to have a full product lineup to establish our own dealer
network."
Folz admits PSA "regrets" not remaining in the U.S. market but says
the auto maker does plan a return. PSA last sold the Peugeot 405,
505 and 604 in the U.S. in 1992.
"We should obviously be attracted to the North American market. We
are certainly thinking about it," he says. "We have neither a shortterm
nor mid-term project today to come back to the U.S. We
certainly will do this eventually."
He says PSA will continue to cultivate additional partnerships with
global auto makers. It already has ventures with Ford Motor Co., BMW
AG and Toyota Motor Corp. to share either platforms or powertrains.
Folz says PSA is not interested in taking a financial stake in any
auto maker, adding the merger culture that developed in the late
1990s has proven to be volatile.
"We always said we didn't think mergers and acquisitions made any
sense in the car industry," he says. "We are clearly devoted to
organic growth, plus cooperation limited in scope and operation with
independent OEMs."
Folz stresses PSA does not plan to pursue other projects with
Mitsubishi beyond the joint production of an SUV in Japan for the
Citroen and Peugeot brands.
"We don't have anything else as a possible cooperation with
Mitsubishi, because we do not have any need for any further
cooperation," he says.
"We are not in a game saying, `What can we share with Mitsubishi?'
Mitsubishi has got a platform expertise when it comes to SUVs, and
it is certainly a good partner when it comes to developing an SUV."
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Received on Tue Sep 6 18:38:46 2005
