Yet another automobile company, betting big on Indian automobile market! Peugeot Citroen, one of the few auto companies not to have a presence in the country will re-enter India with a launch of a mid-sized sedan. The Europe’s second largest automobile company made its exit ten years ago from India after a long legal battle with its Indian partner Premier Automobiles. As per market sources, the French giant, which originally backed out from an entry in 2009 due to global recession, will set up a plant to manufacture the vehicle locally. The company is in talks with a lots of State Government for the location.
“Peugeot is pleased to announce its intention to enter the Indian market with both commercial and industrial operations. The brand will produce, as a first step, a mid-sized sedan car,” the company said in a statement.
“India is a key market and this new implantation reflects our ambition to become a global player. As in China, we will offer Indian customers vehicles adapted to their expectations,” PSA Peugeot Citroen Executive Vice-President (Asia) Gregoire Olivier said.
Without specifying if the company’s Indian headquarters has been shifted to Mumbai, the company said: “Rajesh Nellore, Managing Director India, is leading the Group’s activities in India from Mumbai.”
As per market sources, the company was reportedly in discussions with the Automotive Research Association of India to understand the regulations and homologation (making the vehicles meet Indian rules and norms) needs for launching products like its 307 hatchback and C5 sedan in the country.
