Hindustan Motors Ambassador Peugeot sold: 10 Interesting Facts about India # 39; s most Iconic car
Peugeot has joined hands with Hindustan Motors, makers of the iconic Ambassador The company announced it will invest 700 crore 100 million for the production of vehicles and automotive components of Tamil Nadu.
PSA, best known for Peugeot, Citroën DS and car brands, has signed two agreements with the Indian conglomerate CK Birla for both assembly thrusters vehicles and groups and hopes to launch up to 1 lakh cars a year for the Indian market .
The first agreement is a joint venture between PSA and 50 50 AVTEC owned CK Birla to supply transmission systems to a new facility in Hosur.
In the second agreement, SAP will acquire a majority stake in a joint venture company, created with Hindustan Motors Finance Corp, for the assembly and distribution of passenger cars PSA in India.
The emblematic Peugeot cars will be made from an existing installation Tiruvallur near Chennai, which is currently used to assemble Mitsubishi car models and Isuzu commercial vehicles.
At Hosur unit, the powertrain manufacturing capacity to meet both the needs of the domestic market and global original equipment manufacturers.
The performance of the set-up will be supported by a significant level of localization to achieve competitiveness necessary costs.
Chairman of PSA, Carlos Tavares, said: This project represents a milestone in the world of PSA group profitable growth in key markets of the automobile.
PSA Peugeot Citroen, which renamed PSA Group in April last year, had set to launch 17 products by 2021 in India.
Peugeot had been eyeing since his return to India long after two previous failed attempts, the French carmaker was one of the first participants in a unfolded in India in 1991.
Teaming with Premier Automobiles based Maharashtra in 1994, their first product Peugeot 309 sold about 10,000 units the first year.
But even before the cash breakeven planned and profit, labor unrest in Kalyan plant in 1996 and forced Peugeot mounting losses out of the joint venture in India and also in 1997.
In another attempt in 2011, the PSA Group even laid the foundation of a factory in Sanand in Gujarat, which aims to produce over 1,70,000 units per year, but even this plan was then put on hold because of financial difficulties.
Chennai, mainly dubbed the Detroit of Asia due to the presence of large automobile manufacturing and related industries These are some of the car manufacturers in the city.
Ashok Leyland Ennore, BMW Chengalpattu, Maraimalai Nagar Ford, Hyundai Irungattukottai, Oragadam Nissan, Renault Oragadam, Royal Enfield Tiruvottiyur.
Peugeot land in Chennai French automaker PSA Peugeot popular brand, Peugeot, chennai, French.
Ченнай, Тамилнад, Индия