Mitsubishi announced today that it has signed a contract with Peugeot-Citroen to jointly develop and market electric cars.

Under the terms of the deal, Mitsubishi will supply the vehicles, and Peugeot-Citroen will sell the vehicles in 2010. A memorandum of understanding for this deal was actually signed in March. Peugeot-Citroen plans to sell 25,000 electric vehicles a year.

As we've written in the past, Mitsubishi has been very aggressive with its electric vehicle agenda - beginning fleet sales of its i-MiEV this year. The i-MiEV has an all-electric range of 80 miles, with a top speed of 80 mph.

Also in electric car news, China auto manufacturer, Chery announced that it will start selling its first plug-in electric car (the S18) next year.

Boasting 93 miles on a single charge, the company's looking to sell 30,000 of these vehicles within three to four years. The vehicle is expected to come in at $19,000.

Jeff