NDTV Profit
Home | Auto |

Peugeot Returns To India Through CK Birla Venture: Report

Under Chief Executive Carlos Tavares, PSA is pursuing an ambitious recovery plan after a 2014 brush with bankruptcy and has pledged to find an Indian partner by 2018 to resume production in a market that registers about 3 million new vehicles a year.
EMAIL
COMMENTS
Peugeot Returns To India Through CK Birla Venture: Report
PARIS: French carmaker PSA Group will announce a return to India this week through a manufacturing venture with New Delhi-based CK Birla Group, Les Echos reported on Monday.

The maker of Peugeot and Citroen cars, absent from the fast-growing Indian market since the late 1990s, has signed a joint venture deal with the family-owned conglomerate to include a Chennai assembly plant with current annual production capacity of 12,000 vehicles, the French daily newspaper said on its website.

A PSA spokesman declined to comment on the report.

Under Chief Executive Carlos Tavares, PSA is pursuing an ambitious recovery plan after a 2014 brush with bankruptcy and has pledged to find an Indian partner by 2018 to resume production in a market that registers about 3 million new vehicles a year.

 

© Thomson Reuters 2017



(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

For latest news on Business, like us on Facebook and follow us on Twitter.
ALSO READ Anil Ambani's RInfra To Join Bullet Train Project With Japanese

Advertisement

Advertisement

GAINERS / LOSERS