Peugeot-Citroen is close to finalizing development of a plug-in hybrid, as well as release by 2020 of its second-generation electric vehicle in European markets.
The news was announced by PSA CEO Carlos Tavares during an April 29 annual shareholders’ meeting and he added the French automaker is forming a new division which will focus solely on in-house EV development.
This new EV will be replacing the Citroen C-Zero (shown in featured image) and the Peugeot iOn, which were based upon the Mitsubishi i-MiEV, both were built in Japan, and didn’t fare well-sales wise across Europe.
As one might hope, the company projects the vehicle will have better performance, greater range, and a lower price than its predecessor.
Between 2010 and 2012 PSA achieved a bit over 10,000 sales for both vehicles combined, and only 1,300 units throughout last year.
According to Automotive News Europe, the new EV will be built upon the EMP1 platform, which will the basis for its next generation subcompact and entry level compact cars (B and C segment).
“PSA will make pure electric cars from the bottom of the market upwards based on the new platform by the end of the decade,” a PSA spokesman told Automotive News Europe.
As for the 2019 scheduled release plug-in hybrid, it will be based on the larger EMP2 platform, says Tavares according to ANE. The EMP2 is already the basis of two of PSA’s vehicles, both the Peugeot 308 hatchback, and the Citroen C4 Picasso.
While Tavares didn’t say what vehicles will be receiving the plug-in hybrid setup, he did state during the shareholders’ meeting that PSA is nearing the final stages.
“We have completed the architectural aspects and are currently deciding on the battery technology,” stated the CEO.