As well as sleeker styling, Peugeot is promising great leaps in terms of fuel economy and emissions thanks to new technology, lower weight and improved aerodynamics.
All diesel engines will be fitted with the firm's e-HDi stop/start system which is claimed to improve fuel economy by 15%.
A few months after it is launched, the 508 range will be expanded with the addition of a Hybrid4 model which blends a diesel engine with an electric motor. Peugeot claims 200bhp performance combined with CO2 emissions of 99g/km. It will also run in full electric mode, offering zero exhaust emissions.
As a result of its sub-100g/km CO2 emissions, the 508 will qualify for the tougher company car tax bandings which come into force in April 2012, ensuring it remains in the lowest possible 13% banding.
Full details will be announced at Paris, but expect the 508 to be fitted with a range of 1.6 and 2.0-litre HDi diesels.
Expect prices to start at around £19,000.