The new platform, called the Common Modular Platform (CMP), will be developed over the next two years at a cost of around £130m and will underpin all B-segment and entry-level C-segment cars.
Crucially, it will be a heavily modified version of the existing PF1 platform, meaning that the companies won’t have to extensively modify existing manufacturing facilities when it is launched. Cars on the platform at present include the Citroen C4 Cactus, C3 and Chinese market C-Elysse, DS3 and Peugeot 208 and 2008.
In time, all other medium to large cars developed in-house by the PSA Group will sit on the newer EMP2 platform; however, bosses have already acknowledged that they may continue other joint venture developments into the future, such as the C1 and 108, which are co-developed with the Aygo, and future ventures with GM.
The move, announced ahead of the Shanghai motor show, is particularly notable for its significance in the Chinese market, where the majority of PSA’s cars are sold on the PF1 platform and its manufacturing plants are set up to manufacture it. As a result, the £130m development cost is significantly lower than developing an all-new platform.