Mitsubishi Motors Corp and PSA Peugeot Citroen are to develop electric commercial vehicles together, a news report said Tuesday, dpa reported.
Mitsubishi and Peugeot are to start producing electric vehicles in the French automaker's plant in Spain by 2012, and they are to be sold in Europe under the Peugeot brand, the Nikkei business daily reported.
The two automakers are to first produce a few thousand units a year, and then plan to boost annual output to 30,000 to 50,000 units. They are likely to sell for less than 20,000 euros (25,614 dollars), factoring in government subsidies, the daily said.
