Posted On : 26 Feb, 2019
Mumbai, February 26, 2019 : French carmaker Groupe PSA plans to launch its India foray with the Citroen brand. The company announced on Tuesday that the first locally produced vehicle will hit the Indian showrooms before the end of 2021 after the launch of production of powertrains. PSA Groupe is the owner of prominent brands like Opel, Vauxhall, Citroen, DS and Peugeot.
During the presentation of FY2018 financial results and the second phase of its strategic plan 'Push to Pass' for the period 2019-2021, Carlos Tavares, Chairman of the Managing board, confirmed the Group ambition to conquer new markets and announced that the Citroen brand is chosen to enter India.
Citroen International sales is set to increase with highly localised mainstream cars from the Indian market. The India project was announced as part of the Push to Pass plan and launched at the beginning of 2017 with the signing of two joint venture agreements with CK Birla Group. The Group’s aim is to “be Indian in India”, to manufacture and supply powertrains in the State of Tamil Nadu and to bring state of the art technology for an eco-friendly new product range. More detailed information will be provided at a later stage said the company.
Linda Jackson, Citroen Chief Executive Officer said, “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."
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 Groupe PSA & 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.”