French automobile company Groupe PSA, announced its entry in the Indian automobile industry. The company said that it will be launching its subsidiary, Citroen brand in India with an aim to conquer Indian automobile market. The company also stated that its first product will be arriving in India by 2021.
“We are very proud to launch Citroen in India, one of the fastest growing markets in the world. Building on the Brand’s success in Europe with 5 consecutive years of growth, I am convinced that Citroen’s selling proposition of unique styling, eco-friendly & comfortable cars at the heart of the market has all the potential to satisfy Indian customers,”Linda Jackson, Chief Executive Officer, Citroen, said.
The company stated that the new decision is part of its “Push-to-Pass” strategy which it kicked off in 2017 with the signing of two agreement with CK Birla Group. The company will be manufacturing vehicles and the power-trains in its Chennai based facility which will take its aim of “be Indian in India” further. The other details regarding this will be shared in the future.
Commenting on the arrival of the Citroen in India C.K. Birla, Chairman CK Birla Group of Companies, said, “Announcement of Citroen brand for our Vehicle JV in India, soon after the inauguration of the Powertrain JV greenfield facility at Hosur in late 2018, is a major milestone for the long term partnership of PSA Groupe & CK Birla Group. It is truly an exciting brand for the Indian consumers seeking international eco-friendly products designed for & made in India with unique styling & comfort.”
Groupe PSA is a multinational car manufacturing company based in France. It has various subsidiaries like Opel, vauxhall motors and Peugeot motors. In India it will be working it a joint collaboration with CK Birla group.