TOKYO, JAPAN - Mitsubishi Motors Corp. said on Tuesday, March 8, that it had reached a final agreement with PSA Peugeot Citroen on development and supply of a new electric vehicle for the European market.
The all-electric minicar that Mitsubishi will supply is the i-MiEV.
The two companies had previously reached a preliminary "framework" agreement back in September 2009.
Under the terms of the final agreement, PSA will sell the electric vehicles under the Peugeot and Citroen brands. Production is set to begin in October, and product launch in the European market is expected before the year's end. A total of 100,000 are slated to be supplied.