In a statement, the group said that: “Driven by evolving customer expectations, the plan will transform the company in order to unleash its full potential, capitalising also on the efficiency, operational excellence and agility demonstrated during the ‘Back in the Race’ plan.”

The plan looks grow “strong and well-differentiated” Peugeot, Citroën and DS brands supported by the product plans, based on the launch of “one new car, per region, per brand and per year”.

This also includes plans for the launch of 7 plug-in hybrids and 4 electric vehicles, and the deployment of the connected and autonomous vehicle programme.

It added that the plan will help to ensure profitable growth in all the regions where the group operates.

The plan also includes financial targets to reach an average 4% automotive recurring operating margin in 2016-2018, and target 6% by 2021, and deliver 10% Group revenue growth by 20181 vs 2015, and target additional 15% by 20211.

To achieve these targets, the company is adapting its business model to create more value by optimising its existing customer base, while also expanding it through digitalisation and multi-brand offers in after-sales, leasing, used cars, mobility services and fleet management. Selected venture capital investments will also enhance the company’s portfolio of mobility solutions.

At the same time, PSA announced that it will now be known as PSA Groupe, not PSA Peugeot Citroën, and launched a new logo.

Carlos Tavares, chairman of the Managing Board, said: “Based on our financial reconstruction, we will launch a global product and technology offensive. Now more agile, we are ready to shift paradigms by anticipating changes in car usage patterns. Our digital transformation will make the PSA Group a company connected to its customers. With “Push to Pass”, we will ensure PSA profitable organic growth.”