Peugeot CEO outlines bold plan to re-enter US,…

  • Peugeot CEO outlines bold plan to re-enter US,…

Peugeot CEO outlines bold plan to re-enter US,…

European automaker PSA Peugeot Citroen plans to offer electric and hybrid electric powertrain options for all of its vehicles by 2025, according to CEO Carlos Tavares. A year later, all vehicles in the Opel lineup will be electrified.

Tavares said all models from each of PSA's five brands will offer an array of power systems including at least one electric vehicle.

The company also plans to follow in the footsteps of Mercedes by giving its entire fleet an electrification option (which could mean 100% electric or hybrid).

Global carmakers have announced investments of $90 billion to electrify their future vehicles as a way to comply with the regulations governments are making to curb the carbon dioxide emissions.

That's a list of three very ambitious goals, especially given Peugeot's exit from the USA market over two decades ago, but Tavares has discussed the plan to re-enter the us previously.

Peugeot SA Chief Executive Carlos Tavares said on Thursday he planned to meet next week with the automaker's United Kingdom unions and government officials to discuss the future of Peugeot's Vauxhall plant, where Tavares said production costs are twice those of its plants in France.

In 2017, Tavares acquired the European operation of Opel from GM after GM made the decision to divest the operations that were losing money. It will use its experience to learn the market and return to US sales.

"Mobility...is at the heart of our strategic plan", Tavares said.

Opel engineers can "ensure the future products for this market will be fully US compliant" not just from a regulatory standpoint, but also with consumer tastes, Tavares said.