Paris - French car maker PSA Peugeot Citroen and the Japanese manufacturer Mitsubishi have agreed jointly to develop an electric car for Europe, PSA said Monday.

The car will be modeled on Mitsubishi's Innovative Electric Vehicle (i MiEV) and will be sold under the Peugeot brand. The i MiEV is an electric vehicle based on the gasoline-driven 660cc "i" minicar.

The agreement was signed on Monday, PSA said, adding that its aim was to have an electric car ready for the European market by the end of 2010. (dpa)