Mitsubishi, Peugeot Sign Electric Car Agreement
TOKYO, JAPAN --- Japan's Mitsubishi Motors Corp. said it has signed a contract that spells out its agreement with France's Peugeot-Citroen to cooperate in developing and marketing electric cars.
Under the contract, Mitsubishi Motors will supply electric cars to Peugeot-Citroen. Peugeot-Citroen will begin selling the cars in Europe under its brand name by the end of 2010, Mitsubishi Motors said.
A Peugeot-Citroen spokesman told Reuters it hopes to sell 25,000 of the vehicles annually.
Mitsubishi Motors started selling electric cars in Japan earlier this year.