PSA has announced plans to roll out its second generation of electric vehicles starting 2020.

PSA has announced plans to roll out its second generation of electric vehicles starting 2020.

CEO Carlos Tavares mentioned during the annual shareholders meeting that PSA's second-gen EVs will benefit from an extended range and will come at a more affordable price tag. He went on to specify the electric vehicles are going to provide better performance and the cars will ride on the upcoming EMP1 platform which will underpin the company's B and C segment models. Tavares added he established a new group to specifically work on EVs which will occupy "the bottom of the market upwards."

Before that, PSA plans to launch a plug-in hybrid gasoline-electric model in 2019 based on the EMP2 platform which will also form the basis of the next generation Peugeot 508 and Citroën C5. Tavares declared they are currently trying to figure out the battery technology to use while the "architectural aspects" have been taking care of already.

Reports have indicated the DS luxury marque will be the first car to get the plug-in hybrid setup, but PSA has not commented on these rumors. They are saying this system will make its debut on a high-end model, but it's identity is not known at this point.

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PSA launching second-gen EVs in 2020 with longer range and lower prices; plug-in hybrid due 2019