Today 09/29/2016 - 05:38:00 PM
Peugeot SA 13.445€
CAC 40 4,443.84 PTS
EDF and PSA Peugeot Citroën Partner to Support Development of Electric Vehicles and Plug-In Hybrids.
The cooperative agreement covers several technological programs, including:
An EV pioneer, with more than 10,000 units on the road between 1955 and 2005, PSA Peugeot Citroën is now giving new impetus to electric vehicle research. In June, the Group announced that it was starting a feasibility study on a cooperative project with Mitsubishi Motors Corp. in the area of electric powertrains.
The development of plug-in and other hybrids is an integral part of PSA Peugeot Citroën’s strategic commitment to offering “everyone an eco-car.” For example, the Group is going to extensively deploy the Stop & Start micro hybrid system across all of the Peugeot and Citroën model line-ups, while in 2011, both brands will offer full diesel hybrids that will deliver radical improvements in both fuel efficiency and CO2 emissions. These developments will enable PSA Peugeot Citroën to consolidate its environmental leadership.
For more than 50 years, EDF has demonstrated its commitment to sustainable development by supporting the development of electric transportation systems and plug-in hybrids. With the world’s largest EV fleet (1,500 vehicles), EDF has acquired extensive technological expertise and experience in power storage, recharging infrastructure and plug-in vehicle trials. It is currently developing a new generation of innovative recharging stations.
Christian Streiff, Chairman of the PSA Peugeot Citroën Group, said: “PSA Peugeot Citroën’s environmental leadership reflects a long-standing commitment, which is expressed in an exceptionally diverse model line-up and powerful innovations. With this new collaborative venture, the Versatile Electric Vehicle will further broaden our offering.”
“This new collaboration,” added Pierre Gadonneix, Chairman and Chief Executive Officer of EDF, “marks an important new step in the development of electricity as a competitive, clean source of energy, especially for transportation, that respects both the challenges facing our planet and everyone’s individual mobility needs. Helping to reduce greenhouse gas emissions is a core principle guiding our commitments and investment decisions, and today, the EDF Group’s CO2 emissions rank among the lowest of any energy provider.”
About PSA Peugeot Citroën
PSA Peugeot Citroën is a world-class European automobile manufacturer, supported by two broadline brands, Peugeot and Citroën. With marketing operations in 150 countries, the Group generates one third of its unit sales outside Western Europe and is actively expanding its business in such fast growing markets as China, the Mercosur region and Russia. PSA Peugeot Citroën sold 3,428,400 vehicles in 2007 and reported €60.6 billion in revenue for the year.
The EDF Group, one of the leaders in the energy market in Europe, is an integrated energy company active in all businesses: production, transport, distribution, energy selling and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydroelectric power plants where 95% of the electricity output involves no CO2 emissions. EDF’s transport and distribution subsidiaries operate 1,246,000 km of low and medium-voltage overhead and underground electricity lines and around 100,000 km of high and very high-voltage networks. The Group is involved in supplying energy and services to more than 38 million customers around the world, including more than 28 million in France. The Group generated consolidated sales of €59.6 billion in 2007, of which 44% in Europe excluding France. EDF is listed on the NYSE-Euronext Paris stock exchange and is a member of the CAC 40 index.