The French auto group and its Chinese partner said they would develop together a platform to spawn several electric models starting with 2019.
The collaboration between PSA Peugeot Citroen and China’s Dongfeng Motor have extended further last year, mind when both companies announced their joint strategy to develop a new, stuff small-car platform for expanding their lineup and boosting sales in Asia and China. The automakers now plan to use that Common Modular Platform (CMP) and to modify it so that it can be used for all-electric, B and C segment vehicles for the Peugeot, Citroen, DS and Dongfeng brands from 2019. “The future e-CMP platform is a key milestone in our partnership with Dongfeng,” Carlos Tavares, Chairman of PSA, said. “It will speed up the worldwide development of both of our groups, while helping us to reach the strict carbon objective set for 2020”.
The announcement was made during the presentation of Dongfeng Peugeot Citroen Automobile venture’s new “5A+” medium-term plan, which aims “to move into the top 3 ranking in the industry by 2018 and becoming No.1 in 2020”, to generate 100 billion yuan (15.36 billion dollars) in revenue by 2020 and to “ensure profitable, sustainable growth underpinned by productivity gains of 30 percent by 2020.”
The Chinese automaker is not only the French carmaker’s local partner in the world’s largest auto market, but also one of the major investors in the Group, as PSA Peugeot Citroen had to be rescued from bankruptcy a couple of years back by the French government and Dongfeng, each buying a 14 percent stake in the company.