PSA’s New Name: Groupe PSA

PSA Peugeot Citroen has changed its name to Groupe PSA, effective today.

The company adopted its previous name in 1991. PSA says the new moniker better encompasses its three brands—Citroen, DS and Peugeot—and reflects the company’s intent to expand its business operations into mobility services.

PSA unveiled its new name earlier today as it detailed its five-year “Push to Pass” growth plan following a two-year recovery from near bankruptcy. The strategy’s objectives are to hike revenue and average automotive operating margin by 2018 to 10% and 4%, respectively. The company also targets an additional 15% revenue jump and 6% operating margin by 2021.

CEO Carlos Tavares also pledges a “frugal” approach to product development and continued diligence in controlling fixed and production costs.

PSA says it will introduce 26 new or redesigned cars and eight light-duty commercial vehicles (including a new one-ton pickup truck) at a rate of one new model per region, per brand, per year over the next five years.

The new models will include seven plug-in hybrids and four all-electric vehicles, plus the debut of connected and self-driving technologies, according to the company.