Mitsubishi to supply 100,000 Electric Vehicles to Citroën

Mitsubishi Motors Corporation (MMC) announced the signing of a Final Cooperative Agreement regarding development and supply of the new-generation electric vehicle (EV) i-MiEV* with PSA Peugeot Citroën (PSA).

MMC and PSA signed a Framework Agreement in September 2009. Following the Framework Agreement, both parties reached a final consensus on development and supply of EVs based on the i-MiEV for the European market.

The main points of this Final Cooperative Agreement are:

– PSA will sell the EVs under the Peugeot and Citroën brands.

– Production is to commence in October 2010 and product launch in the European market will be by the end of 2010.

– A total of 100,000 units are expected to be supplied in the frame of this Agreement.

Joint statement from Mitsubishi Motors Corporation and PSA Peugeot Citroën

Philippe Varin, CEO of PSA Peugeot Citroën and Osamu Masuko, President of Mitsubishi Motors have met in Geneva on March 2nd, on the occasion of the Motor Show. They confirmed the intent to broaden the current successful cooperations of the two companies.  They also concluded that a capitalistic alliance was not appropriate in the current circumstances.