Bigger than its predecessor, the 308 will be launched internationally at the Frankfurt Motor Show in September.
Its exterior design borrows heavily from that of the smaller 207 released last year with oversized and angled light clusters and large grille.
Power will be supplied by a range of engines including a 1.6-litre petrol and a 2.2-litre turbodiesel unit.
The new 308 will also be made available as a diesel hybrid, based on the company's 80 kW 1.6-litre turbodiesel engine. It will use regenerative braking to top up the compact nickel metal hydride battery pack under deceleration. The batteries will be stored in the place traditionally used for the spare wheel.
Three- and five-door models will be produced at the Sochaux and Mulhouse facilities in France.
The range will be expanded to include CC, SW and MPV models.
Locally, the 308 will be available soon after its Frankfurt debut - possibly in the third quarter of this year.