Tuesday, June 17, 2008

Mitsubishi, Peugeot to Join in Electric Vehicle Business

Tokyo, June 17, 2008 (Jiji Press) - Japan's Mitsubishi Motors Corp. <7211> and French automaker PSA Peugeot Citroen said Tuesday they have agreed to study their cooperation in development and production of electric power trains.

The autoamakers said they will work out details over the next several months. They are to consider providing motors and lithium-ion batteries for the i MiEV electric vehicle to be launched by Mitsubishi Motors in Japan in 2009.

The announcement came at a time when Mitsubishi and Peugeot are building an automobile plant in Russia.

Separately, Mitsubishi Motors plans to mass-produce lithium-ion batteries for electric vehicles and other applications at a joint venture with GS Yuasa Corp. <6674> and Mitsubishi Corp. <8058>.

JCN.

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