• Sunday, December 04, 2022

Business

Peugeot is heading back to India after 20 years

Peugeot withdrew from the Indian market 20 years ago

By: Eastern Eye Staff

French automaker Peugeot is heading back to India, a market it withdrew from 20 years ago, where car ownership is still relatively low but is seen as having huge growth potential. PSA Group, which makes Peugeot and Citroen cars, on Wednesday said it had signed an agreement to set up two joint ventures with Indian conglomerate CK Birla, with production capacity initially estimated at 100,000 vehicles per year by 2020. PSA said it has not yet decided which model it will build in India, but the project represents an initial investment of 100 million euros ($107 million, £85 million), of…

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