Peugeot to Re-enter Indian Auto Market by 2018
BENGALURU: The automobile industry is one among the key drivers that levitate the economic growth curve of a country. From the de-licensing of the auto sector in 1991 to the recent opening up of 100 percent FDI, Indian automobile sector has journeyed long. Today, almost every major global auto manufacturers have set up facilities in the country, and to such a growing market PSA Peugeot Citroen is carving its way-in to setup manufacturing units by 2018.
PSA Peugeot Citroen, a French car manufacturer with it’s ‘Push to Pass’ growth strategy plans to launch their first product by 2021 in India. With India heading towards becoming a major global market, PSA is making its move to set up its manufacturing base for domestic and export markets. Peugeot is one of the early birds in India, as it partnered with Premiere automobiles in 1994 and offered 309 Sedan cars. This partnership lasted till 1997. In the second entry, Peugeot showcased 3008 hybrid, RCZ, 3008 crossover and 908 LeMans car at the Auto Expo 2012.
Peugeot plans to partner with an Indian automotive company in order to keep the production cost low and improve understanding of the Indian market. The carmaker also will be introducing future models in India. The product portfolio includes EVs (Electric vehicles) and Hybrid cars as well.