PSA Group and its Chinese partner Dongfeng will design an electric version of the Common Modular Platform (CMP)
PSA Group and Dongfeng have agreed to jointly design an electric version of the Common Modular Platform (CMP), which they have been co-developing since April 2015.
The future electric platform will be called e-CMP and will underpin "all-electric, high-performance B and C segment vehicles for the Peugeot, Citroën, DS and Dongfeng brands from 2019," according to the automakers' joint press release.
"The future e-CMP platform is a key milestone in our partnership with Dongfeng. It will speed up the worldwide development of both of our groups while helping us to reach the strict carbon objective set for 2020," said PSA Group chairman Carlos Tavares.
The electric platform announcement was made at the presentation of Dongfeng Peugeot Citroën Automobile's new "5A+" medium-term strategic plan, which aims to make the DPCA joint venture "an efficient car manufacturer, capable of providing its customers with comprehensive mobility solutions."
DPCA's plan has three strategic focuses: to move into the top 3 ranking in the industry by 2018 and become No. 1 in 2020, to generate revenue exceeding RMB 100 billion ($15.3 million) by 2020, and to increase productivity by 30 percent by 2020.
The DPCA joint venture builds models for the Peugeot and Citroën brands at its plant in Wuhan, central China. PSA has another Chinese joint venture, Changan PSA Automobile, which produces DS vehicles.
Dongfeng holds a 14 percent stake in PSA Group for which it paid €800 million in 2014.