Mitsubishi Motors Corporation (MMC) and PSA Peugeot Citroen announced today that both companies have signed a Memorandum of Understanding (MoU) regarding collaboration on electric vehicles based on a vehicle currently under development by MMC in Japan.
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Under the deal MMC will supply PSA with an electric vehicle for market launch at the end of 2010 or the beginning of 2011.
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 MMC’s i MiEV (Mitsubishi innovative Electric Vehicle, based on the “i” minicar), to be manufactured by MMC and sold under Peugeot brand, in parallel to Mitsubishi’s own European i MiEV.
The two companies are now in negotiations on a cooperative agreement, targeting market launch at the end of 2010 or the very beginning of 2011.
Currently involved in testing and promotional activities in Japan, New Zealand, the United States and across Europe, the i MiEV will be launched in Japan during the summer of 2009.
In parallel to the 2010 European launch of the i MiEV, MMC is examining several markets including the U.S. for the rollout of the electric vehicle.
