French carmaker PSA Peugeot Citroen is working on two new models for emerging countries as it seeks to break out of its dependence on mature markets, French newspaper Les Echos reported on Friday.
PSA plots more budget cars
Europe's second-largest carmaker in November outlined a plan to boost its profitability that included a raft of new models targeting the emerging markets it wants to focus on as mature markets stagnate.
The group eventually wants an 8% share of the Chinese market, compared with 3.5% in 2009.
The paper said the two new models - an entry-level small car known internally as "global small" and a mid-sized sedan known as "M3-M4" - were not among the models announced in November.
Japanese partner Mitsubishi Motor Corps is leading the development of the small car, Les Echos said, adding that it would be sold in several continents and could be produced in Japan, Thailand, India, Latin America or China. Its launch date is yet to be determined, Les Echos said.
The larger car would be built in PSA's Vigo plant in Spain, the paper said.
The two projects are linked "because both are designed to target the middle classes in emerging countries", the paper quoted a PSA executive as saying. Separately, the paper reported that PSA and its Chinese partner Dongfeng are considering whether to build a third factory in China and that the joint venture will examine the matter at its next board meeting in July.
A PSA spokesman could not immediately be reached for comment.
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