France’s Peugeot is mulling whether to build the 308 R Concept that bowed at the Frankfurt Motor Show. If given the green light for Peugeot 308 R production, the hot hatch would likely arrive as a limited-edition model in select European countries to take on the upcoming Honda Civic Type R and the Renault Mégane RS.

The announcement comes as Peugeot is looking to give its image a much-needed overhaul in order to overcome the European new car market’s slump.  The firm is moving its entire lineup of models up a notch in price, finish and equipment, and it is turning towards sportier versions of cars that hark back to its illustrious heritage in racing.

“We will create specific high-line versions of our cars such as the 208 GTi and RCZ R. There is room for a Peugeot 308 R that uses the same engine as the concept car at Frankfurt,” said Maxime Picat, Peugeot’s general director, in an interview with Top Gear.

Presented as merely a design study, the 308 R packs a tuned variant of the 1.6-liter four-cylinder THP mill developed jointly by BMW and PSA. The four-banger makes 270 horsepower at 6,000 rpms and 243 lb-ft. of torque at 1,900 rpms.

Picat did not announce when the automaker will decide the 308 R’s fate, but we wouldn’t be surprised to see the production variant bow at the Geneva Motor Show next March.