The French and the Japanese have gotten together to form a magic partnership once already with Carlos Ghosn at the helm. The question is, then, can that success be replicated? PSA Peugeot-Citroën seems to hope so, and it is reportedly on the verge of purchasing a controlling stake (somewhere between 30 and 53 percent, depending on the report) in Mitsubishi Motors.

The total price for the acquisition would cost the European automaker over $3 billion and the deal would also include Mitsubishi acquiring a somewhat smaller stake in PSA Peugeot-Citroën – again, similar to the situation between France’s Renault and Japan’s Nissan.

So, what does Mitsubishi have that Peugeot wants? Three things, apparently: A presence in the States, SUV expertise and, perhaps most importantly, electric vehicle technology. If a deal does indeed take place, the resulting entity would be the sixth largest automaker by sales in the world.

[Source: BusinessWeek]