PARIS: PSA Peugeot Citroen and Mitsubishi Motors Corp. have agreed to launch an electric car in Europe by the end of 2010, the companies said Friday.

The French and Japanese car makers said the as-yet unnamed vehicle will be based on Mitsubishi's i-MieV, which was launched on the Japanese market in June.

The car will be built in Japan and the carmakers target eventual annual global sales of 50,000 vehicles, PSA Peugeot Citroen spokesman Jean-Marc Sarret said. Half of these sales will be made by Peugeot and Citroen in Europe, the rest by Mitsubishi in Japan and elsewhere, Sarret said.

Peugeot and Citroen will announce the names of their respective electric cars in the coming days, Sarret said.

The car will be able to drive for 130 kilometers (81 miles) between charges, with a battery that can be fully recharged in six hours, Sarret said.