PSA Peugeot Citroen (UG.PA) and Mitsubishi Motors Corporation (MMO.F) announced a feasibility study aimed at extending their collaboration on electric vehicles.
The automakers agreed that cooperation on electric vehicle development and production would be mutually beneficial, and this project will focus on an electric powertrain for small urban vehicles, according to a joint press release.
In addition, the Nikkei business daily said Mitsubishi Motors will supply next generation lithium-ion batteries and related technology to the collaboration. Mitsubishi Motors is partnered with GS Yuasa Corp (GYUAF.PK) in the production of li-ion batteries.
PSA Peugeot Citroen says it is the largest global manufacturer of electric vehicles to date with more than 10,000 units sold.
Mitsubishi Motors said it aims to become one of the leading car manufactures of electric vehicles and has prioritized development of its i MiEV*1 electric vehicle. The company said it will launch the vehicle in the Japanese domestic market in 2009 and is considering a possible future introduction to Europe and the U.S.
A week ago, Mitsubishi Motors and Peugeot announced a ground-breaking ceremony for their joint Russian factory, in Kaluga (180 km south west of Moscow), which will build mid-range SUVs.
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