Citroen announces EV concept which uses recycled cardboard and has a top speed of 68 mph

French automaker Citroen released details of a caller electrical conception conveyance Thursday, with its CEO telling CNBC that the electrification of idiosyncratic transport represented an important portion of a sustainable future.

In a papers outlining the concept, which is called oli, Citroen said it had a people value of astir 1,000 kilograms, oregon 1 metric ton, and a scope of arsenic overmuch arsenic 248 miles.

Citroen said the oli's apical velocity had been constricted to 68 miles per hour. The brand, which is owned by Stellantis, said "20% to 80% charging" would instrumentality 23 minutes.

The automaker added that conveyance parts could beryllium "reused oregon recycled passim ownership." According to the papers providing details of the oli, it has a "flat bonnet, extortion and pick-up furniture panels" that are "made from re-cycled honeycomb cardboard."

The steadfast was keen to stress the vehicle's smaller scale. "Rather than being a 2,500kg 'palace connected wheels' filled with screens and gadgets, oli proves that much tin beryllium achieved with less," it said.

Citroen besides said that the regularisation of the oli's velocity to a maximum of 68 mph had been done to "maximise efficiency."

Speaking to CNBC Thursday, CEO Vincent Cobée stressed the value of electrical mobility going forward, sketching retired a imaginativeness of however helium saw the assemblage developing.

"Obviously, and I deliberation we tin each hold with it, the thrust towards an electrification [of] idiosyncratic transport is simply a precise important constituent of a sustainable future," Cobée, who was speaking to CNBC's Charlotte Reed, said.

"I'm not adjacent talking astir regulation, I'm talking mostly astir societal expectations," helium added. "How we get determination is simply a precise important question."

Cobée went connected to stress the value of broadening entree to EVs. "One happening is, for the past 10 years, we've seen an summation successful electrical conveyance performance," helium said. "I'm talking autonomy, power, velocity and, arsenic a consequence, value and price."

"This for america is simply a interest because, honestly, if the aboriginal of an electrical car is 2.5 tons of value and 70,000 euros oregon much of price, past it's not for everyone."

With European economies facing an vigor situation and soaring prices implicit the coming months, determination person been concerns successful immoderate quarters that the expanding outgo of charging an EV volition disincentivize uptake among consumers.

According to information released this week, electrical car drivers successful the U.K. person seen the outgo of utilizing a public, "rapid" charger connected a pay-as-you-go tariff emergence by 42% since May.

And speaking to CNBC earlier successful September, the caput of equity strategy astatine Saxo Bank said "the outgo vantage for electrical vehicles versus a gasoline car" was "fast diminishing" successful Europe.

"I'm truly wondering to what grade that volition statesman to interaction income for EVs," Peter Garnry said.

Citroen's Cobée touched upon these subjects during his interrogation with CNBC. "There is simply a existent interest astir vigor prices — rightly so," helium said. "Now, I … privation to marque the constituent that those concerns mightiness beryllium abbreviated oregon mid-term only."

"Obviously, we volition thrust to a modulation successful presumption of root of energy, focusing connected electrification," helium added.

More sustainable vigor sources would beryllium developed, helium said, "and we tin anticipation that this volition support the terms and the root of vigor wrong affordable limits."

"So the existent abbreviated word situation has an interaction connected orders, arsenic we spot contiguous for electrical cars, but this is, I would accidental … possibly an exaggerated reaction."

"And fundamentally we tin expect that wrong a definite timeframe vigor costs volition go much nether control. And successful immoderate case, I don't deliberation it volition alteration the displacement towards electrification."