PSA Peugeot Citroen has outlined plans to launch hybrids, electric vehicles and a one-tonne ute that will drive growth in Peugeot, Citroen and DS through to 2021.

PSA PEUGEOT CITROEN has outlined a major product push that will see the company launch 26 new models by 2021, is targeting a 10% profit increase by 2018, and will launch a 10-year program to return to the US market, starting with a car sharing program in 2017.

According to PSA Peugeot Citroen boss Carlos Tavares the company is launching a “global product and technology offensive” that will see the company introduce seven plug-in hybrids and four all-electric vehicles by 2021. The masterplan is being called ‘Push to Pass’ and includes plans to reach more customers through keen after-sales offerings, car sharing and used car sales. “The operative word here is the enlargement of our customer base,” Peugeot’s Chief Financial Officer Jean-Baptiste de Chatillon said.

After the Global Financial Crisis brought PSA Peugeot Citroen to the brink of collapse, Tavares claims the company has recovered much quicker than expected. “We have turned the company around sooner than we anticipated,” he said.

This was partly done through cutting vehicle production costs. Last year alone the company managed to pull out 211 euros in cost per vehicle. The Push to Pass plan outlines that saving will rise to 700 euros per vehicle.

Of the three brands, it’s believed that Citroen will receive the biggest product boost with around 12 new Citroen models due by 2021, and seven of them by 2018. The company said its second-generation electric cars will be here by 2019.

But, there was no detailing of new platforms in the Push to Pass plan, and it’s believed that the company’s new models will sit on existing platforms, this includes the plug-in hybrids and all-electric vehicles. 

While it was talk of the one-tonne ute that most wanted to hear about, Tavares merely mentioned it would be part of the mix, refusing to comment on whether it would be a vehicle of their own making (unlikely), or whether it would be, as believed, based on a Toyota HiLux.

In addition to its new product blitz, PSA Peugeot Citroen announced, going forward, it would be known as PSA Groupe to better symbolise its new path and brand portfolio.