Peugeot SA CEO Carlos Tavares has confirmed the company plans to re-enter the U.S. market and go all-electric with its product portfolio. The return state-side is being led by former General Motors engineers, who were acquired by PSA Group during its recent acquisition of Opel.
Tavares detailed his plan by asserting that 100-percent of Peugeot’s lineup will be electrified by 2025. It is a plan that is similar to others announced by Volvo, BMW and other automakers. However, 2025 is among the earliest of timeframes that have been announced thus far, making this a fairly ambitious goal on PSA’s part.
During this same period, PSA will have a three-phase approach to re-entering the U.S. It will start with ride-sharing services, such as the company’s Free2Move service that it has already announced in select U.S. cities. Peugeot will then follow up by providing actual ride-sharing services that leverage Peugeot products built for the U.S. market. Assuming the first two phases got well, Peugeot will ultimately begin selling Peugeot products in the U.S.
Tavares did not offer a specific timeline for its phased approach to the U.S. market, but Reuters reports he did confirm he has Opel engineers “working on U.S. products now.” The executive feels Opel engineers are better in tun with what will perform well on the U.S. market and U.S. regulations.
Peugeot exited the U.S. market about 20 years ago after getting ran out by Japanese competition and evolving consumer trends.