PHOTO CAPTION: Citroen GQ Plug-in Hybrid Concept uses direct injection gasoline engine, rather than diesel.

PSA Receives EU Investment Bank Loan to Develop Plug-In Hybrids

A total of €400million will be poured into the plug-in hybrid programme.

Published: 19-Jul-2010

Peugeot Citroen has been boosted by a €200million loan agreement with the European Investment Bank for the development of plug-in hybrid vehicles.

A total of €400million will be poured into the plug-in hybrid programme with the aim of developing multi-purpose vehicles that combine the advantages of a diesel engine on the highway with those of an electric motor for city driving. Around 500 PSA Peugeot Citroen employees will work on the project at the Velizy Technical Centre in France.

The European Investment Bank aims to contribute towards the balanced development and economic cohesion of EU member states and has granted the funding support under the European Clean Transport Facility programme, which is one of its measures aimed at stimulating the European economy.

It is hoped the programme can significantly reduce carbon dioxide emissions through research and development and innovation, as well as encouraging the production of cleaner and more fuel-efficient vehicles.


The SOLO will reach 100 MPG, 0 to 60 MPH in the 6 Sec and top speed of 130 MPH

GM expects the Volt to consume as little as 25 kilowatt hours per 100 miles in city driving.

Pre-production prototype Volt has achieved 40 miles of electric-only, petroleum-free driving in both EPA city and highway test cycles.

EV World publisher Bill Moore (right) with Volt vehicle line manager Tony Posawatz preparing to drive Volt 'mule' at GM's Warren, Mi research center.

Respected expert in plug-in hybrid vehicle technology available to brief media on significance of GM's announcement.


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