Mitsubishi and Peugeot-Citroen formalize electric car agr...

Mitsubishi Motors Corp of Japan and France's Peugeot-Citroen formally signed a contract this week for a partnership on electric vehicles. Back in March the two carmakers agreed to team up to develop and market the vehicles.
Mitsubishi Motors, under the contract, will supply electric cars to its French partner - which will sell them under the Peugeot-Citroen name in Europe by the end of 2010.
According to Peugeot-Citroen, the goal is 25,000 vehicle sales annually.
The contract with Peugeot-Citroen is part of Mitsubishi Motor's expansion into the electric vehicle field, an effort it began ramping up earlier this year in Japan.