While the partnership between Mitsubishi and Peugeot to bring electric vehicles to market has been officially official for some time, the deal we told you about that would see the Peugeot lion logo perched proudly on the nose of the Japanese automaker's i MiEV hasn't. Until now. On the eve of the unveiling of its "Prototype iMiEV concept" in Geneva comes word that the two have signed a Memorandum of Understanding (MoU) that would see them collaborating on vehicles based upon the iMiEV. We are guessing that the timing of this announcement and the imminent reveal of the slightly-upsized right-hand-drive prototype of the iMiEV is not coincidental.

It is said that MiMoCo will be doing the manufacturing in Japan while the extra showroom floor space that Peugeot can offer in Europe should help boost sales volumes and keep costs down. While it is unknown what sort of sales targets the companies have for the car, we do know that GS Yuasa and Mitsubishi plan on making enough batteries for 10,000 i MiEVs once sales start with a doubling of that capacity within a year or two. As to what a Peugeot iMiEV will look like, until pictures are taken we can only lean on the magic of photoshop and present you the slightly altered image above. Press release after the break.

[Source: Mitsubishi]

PRESS RELEASE:

Mitsubishi Motors Corporation and PSA Peugeot Citroen: one step further towards electric vehicles for Europe.

Tokyo, March 2, 2009 - Mitsubishi Motors Corporation (MMC) and PSA Peugeot Citroen announced today that both companies have signed a Memorandum of Understanding regarding collaboration on electric vehicles based on a vehicle currently under development by MMC in Japan.

In June 2008, both companies started a feasibility study of the development, manufacture and use of an electric powertrain for small urban vehicles.

The companies have now reached an understanding that will allow PSA to partner with MMC for the development of an electric vehicle for Europe based on MMC's i MiEV*1, to be manufactured by MMC and sold under Peugeot brand, in parallel to Mitsubishi's own European i MiEV.

This new step would be mutually beneficial since the collaboration of MMC and PSA Peugeot Citroen will ease and accelerate the introduction of their electric vehicles in the European market.

The two companies are now in negotiations on a cooperative agreement, targeting market launch at the end of 2010 or the very beginning of 2011.

For PSA Peugeot Citroen this agreement will enable the Group to maintain its leadership in environmentally friendly cars. With an extensive knowledge of electric vehicles, PSA Peugeot Citroen is the largest global manufacturer of electric vehicles to date, with more than 10,000 units sold. PSA Peugeot Citroen will bring to this project its expertise in the field of electric powertrains.

For MMC, this project is consistent with its worldwide electric vehicle strategy. Currently involved in testing and promotional activities in Japan, New Zealand, the United States and across Europe, the i MiEV will be launched in Japan during the summer of 2009. In parallel to the 2010 European launch of the i MiEV, MMC is examining several markets including the U.S. for the rollout of the electric vehicle.

*1 Mitsubishi innovative Electric Vehicle, based on the "i" minicar

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