Mitsubishi, Puegot sign agreement to develop electric vehicles

Mitsubishi Motors Corp. and PSA Peugeot Citroen announced in early March that they have agreed to collaborate on the development and production of electric vehicles based on a vehicle currently under development by Mitsubishi in Japan. In June 2008, both companies started a feasibility study of the development, manufacture and use of an electric powertrain for small urban vehicles. The companies have now reached an understanding that will allow PSA to partner with MMC for the development of an electric vehicle for Europe based on Mitsubishi’s i Mitsubishi innovative Electric Vehicle (i MiEV), to be manufactured by Mitsubishi and sold under the Peugeot brand, in parallel with Mitsubishi’s own European i MiEV. The two companies are now negotiating a cooperative agreement, targeting market launch at the end of 2010 or the very beginning of 2011. (March 4, 2009)