PSA Pushes for Electrification as it Prepares for U.S. Debut
French automaker PSA announced a few years ago that it will enter the U.S. market in 2026. And around that time, it plans to have a wide range of electrified vehicles in its global lineup, the company’s CEO has revealed.
PSA will offer 40 electrified vehicles worldwide by 2025, said Carlos Tavares, speaking at the Automotive News World Congress. That means it will offer full electric cars, plug-in hybrids, mild hybrids, or any combination of these type of vehicles. The 40 vehicles will come from across PSA’s five brands, which include Citroen, DS, Opel, Peugeot, and Vauxhall.
By 2023, PSA wants to have electrified 86 percent of its core models. A year later, all vehicles in the Opel lineup will be electrified. Tavares said the goal is for PSA to become the most efficient carmaker, not the biggest.
Right now, PSA is playing catch up as it prepares for the U.S. market. The first model coming to the U.S. is being developed by U.S. engineers in Europe. In the meantime, PSA has launched mobility services in the U.S. and will offer car sharing across a few big cities this year. This move will help the automaker better understand U.S. customer preferences before it makes a big play in this market.
We still don’t know which brands or vehicles PSA will bring to the U.S, but earlier reports suggested DS could lead the way. Tavares said that a pickup is not a top priority.
Despite big plans for the U.S., Tavares said, “turning Opel around is my No.1 priority.” PSA bought GM’s unprofitable European business last year in a deal worth around $2.3 billion at the time.