Osamu Masuko, CEO of Mitsubishi Motors Corporation (MMC), and Philippe Varin, CEO of PSA Peugeot Citroen, recently signed a cooperative agreement that signifies a new step in their partnership on electric vehicles (EV) in Paris.

The main points of this cooperative agreement are as follows, the development of an EV for the European market based on MMC's Japanese i-MiEV model; the vehicle is to be sold in Europe, with both Peugeot and Citroen versions; production is planned to commence in October 2010 for commercial launch in the European market by the end of 2010.

MMC first launched the new-generation EV i-MiEV in Japan in June, and will begin global sales of the right-hand drive vehicle this year. MMC has plans to expand rollout of the i-MiEV in left-hand drive markets in fiscal year 2010.

For PSA Peugeot Citroen this new EV will further enrich its range of low-emission vehicles; along with its hybrid diesel technology to be launched in 2011 on the Peugeot 3008 HYbrid4 and Citroen DS5 HYbrid4, and a Plug-In HYbrid4 diesel in 2012, PSA Peugeot Citroen confirms its aim to be a step ahead in pioneering vehicles with low CO2 emissions.