It was announced to the public in May 2012, with an official launch that took place at the Paris Motor Show in September.

The 301 is built at Peugeot's Vigo plant in Spain, alongside its twin Citroën C-Elysée, and has been manufactured in China since November 2013.

The new facelift also added as an option a touchscreen multimedia radio with Android Auto and Apple CarPlay.

A similar model to the 301, badged as a Citroën C-Elysée, was also launched at the Paris Motor Show in 2012.

After the return of sanctions by the United States in 2018, Peugeot left Iran and IKAP was suspended.