The PSA Group, which owns Peugeot, Citroen and Vauxhall, has confirmed it will launch a one-tonne pick-up by the end of the decade.

PSA said the new model would be co-developed with Chinese manufacturer ChangAn Automotive, with the vehicle being built in a dedicated LCV plant in China.

The French vehicle giant previously announced its intention to produce a one-tonne pick-up last year as part of its “Push to Pass” plan that outlines the group’s strategy from 2016 to 2021.

The scheme, which PSA last April claimed is based on “frugal R&D expenditure and rigorous control over production costs as well as fixed costs”, targets revenue growth of 15% by 2021 compared to 2015 alongside an operating profit margin of 6%.

As part of “a product blitz” covering eight light commercial vehicles and 26 passenger cars, PSA will become the latest newcomer to launch a pick-up.

According to PSA, the one-tonne pick-up market represents 18% of the global LCV market with a yearly 5% increase worldwide.

Information is thin on the ground at this stage in the model’s life, but the group said it would be able to meet “the most stringent worldwide regulations” with the vehicle being offered to both Chinese and overseas markets.

“This new product, which is complementary to the Peugeot pick-up recently launched in Africa, is in line with the core model strategy of Groupe PSA and will support our come back in this growing market segment,” said Patrice Lucas, executive-vice president of programme and strategy at PSA. “It will contribute to achieve the objectives set for the Push to Pass plan regarding LCVs with a target to increase volumes by 30% by 2018 and triple overseas volumes by 2021.”

Mingxue Yuan, executive-vice president cooperation and strategy at ChangAn, added: “This first common development for a new generation of one-tonne pick-up is a great opportunity for both companies to hit markets in China and overseas. It is a strong milestone in a long term cooperation between Groupe PSA and ChangAn.”