A fresh report out of the United Kingdom claims Fiat is developing a successor to the Punto, with the little hatchback set to be based on the Peugeot 208 platform.

Fiat president Olivier François told Auto Express the Italian firm had already started developing a successor to the third-generation Punto, which went out of production in 2018.

“We need a B-sector [product]. It’s not a mystery. That project has been postponed continuously. Now it is under development,” he said. “But it would be premature to speak of this model. We will have a B-sector [model], for sure,” François added.

Late in 2019, the PSA Group and Fiat Chrysler Automobiles signed a “binding combination agreement” providing for a 50/50 merger of their businesses.

As the British publication points out, it thus seems logical a new Punto (if it were to inherit the badge) would be built on the CMP platform already underpinning the latest Peugeot 208 and Opel Corsa models.