Peugeot is benefiting from a surge in demand for electric vehicles in France and Germany, helping the Stellantis brand recover from quality issues related to PureTech engines and from past cost-cutting measures that have damaged its image, Bloomberg reports.
According to brand CEO Alain Favey, electric vehicles accounted for more than half of retail orders for models such as the 208 and 3008 in April and May, up from about 20% in previous months, and demand for electric vans also increased. This recovery is taking place against the backdrop of rising sales of electric vehicles across Europe, supported by the emergence of more affordable models from European and Chinese manufacturers, as well as new subsidies in Germany. Peugeot is one of the brands prioritized in the Stellantis strategic review led by CEO Antonio Filos, along with Jeep, Ram and Fiat, and will receive a significant share of future investments.
The brand also renewed its partnership with Dongfeng in China, where it introduced two new concept cars based on the Dongfeng platform, which, however, should remain recognizable as Peugeot. Peugeot plans to launch seven new models by 2030 and aims for annual sales of 1.5 million vehicles, up from last year's 1.1 million. Next year, a new all-electric 208 is expected to be released with innovations such as steer-by-wire technology. Stellantis is also investing more than 1 billion euros in its Mulhouse plant, strengthening Peugeot's industrial base in France.
