Image: Rows of Ambassador cars are seen at the Hindustan Motors plant in Hindmotors. Photograph: Jayanta Shaw/Reuters. This is the second deal between Peugeot and the C K Birla group. Last month, the two groups entered a “long-term” partnership, with an initial investment in capital expenditure of close to 700 crore, for vehicle and power-train manufacturing in Tamil Nadu. The iconic Ambassador brand, once ubiquitous in official use, will now belong to Peugeot SA (PSA) -- for ... Rediff.com, 2 weeks ago
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‘This is purely a brand sale. It includes the Ambassador with its variants. Peugeot is likely to relaunch the brand with multiple variants.’ The iconic Ambassador is likely to be relaunched from the Peugeot SA stable in a new avatar and at a new price point. Peugeot wanted to acquire the Ambassador brand and launch it as a state-of-the-car targeted at the mid-market segment, said Rajeev Shah, managing director and chief executive officer, RBSA Advisors. RBSA advised Hindustan ...Rediff.com, 1 week ago
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The JV between the French auto major and India's CK Birla group is aiming at production capacity of about 100,000 vehicles a year by 2020, reports T E Narasimhan from Chennai. PSA Group, the French automobile major which makes Peugeot and Citroen cars, is re-entering India by signing an agreement with the CK Birla Group. The two partners will invest around Rs 700 crore (Rs 7 billion) in Tamil Nadu to manufacture cars and powertrains, by 2020. The cars will be made at Hindustan Motors' ...Rediff.com, 1 month ago
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