French Carmaker PSA returns to India with Birla manufacturing deal
PSA says it will assemble vehicles in Tamil Nadu by 2020 under an initial 100 million ($107 million) joint venture investment with Birla-owned HMFCL
Paris: French carmaker PSA Group on Wednesday unveiled plans to return to the Indian market after striking car and powertrain manufacturing deals with CK Birla Group, a New Delhi-based conglomerate.
PSA, maker of Peugeot, Citroen and DS cars, said it will assemble vehicles in Tamil Nadu by 2020 under an initial €100 million ($107 million) joint venture investment with Birla-owned HMFCL.
The partnership will also build car engines and transmissions under a separate manufacturing deal with AVTEC, another CK Birla company, the groups said in a joint statement. Reuters
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Business NewsIndustryManufacturingFrench Carmaker PSA returns to India with Birla manufacturing deal
First Published:25 Jan 2017, 01:40 PM IST
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