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After exiting India in 1997, French carmaker Peugeot will return to India via an alliance with the CK Birla Group.
The collaboration will be a joint venture that will use the Hindustan Motors plant in Chennai to manufacture Peugeot cars. After its first innings in India with its partner, Premier automobiles, the brand planned a second attempt at the Indian market independently in 2011. However, due to financial uncertainty, Peugeot had to put its India plans on hold then.
In April 2016, the PSA Group had announced an aggressive growth plan for the 2016-2021 period, which India was a part of. The company plans on establishing a partnership deal in India by 2018 and is looking to launch its first car here before the end of 2021. Peugeot’s interest in India comes as no surprise, as the country is soon expected to become the third largest car market in the world by the end of the decade, and could be crucial in the growth of the French brand.