Mitsubishi Motors and PSA Peugeot Citroën plan to jointly develop a commercial electric vehicle, media reported on Tuesday. Mitsubishi and Peugeot will begin producing electric vehicles at the French manufacturer’s factory in Spain no later than 2012, and the vehicles will be sold in Europe under the Peugeot brand, reported the business daily Nikkei.
The two vehicle manufacturers will initially produce several thousand vehicles annually, and then plan to increase annual production to 30,000 to 50,000. The vehicles are likely to be sold at a price lower than 20,000 euros, considering government subsidies, the newspaper reported.(H)
