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PSA+Group+buys+%27Ambassador%27+from+Hindustan+Motors
Thursday, 04 January 2018 - 15:38
PSA Group buys 'Ambassador' from Hindustan Motors
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French Automaker PSA Group that owns Peugeot, Citroen, and DS brands will soon begin its Indian operations and is very hopeful to be lucky in India in its third attempt.

The automaker had acquired the iconic Ambassador brand in India and has 50:50 joint venture with CK Birla Group. 

In November 2017, PSA and C.K Birla group hosted a ground-breaking ceremony in Hosur, Tamil Nadu marking the construction of its powertrain plant.

Overall this joint venture has announced an investment of $ 110 million for vehicle and powertrain manufacturing plants.

The company has not officially disclosed its plans to revive the ‘Ambassador’ brand.
 
The company is not looking at the entry-level segment and this Maruti Suzuki Swift, Hyundai i20 rival will also be built for the export market.
 
The company is also working on a mid-size sedan and another compact SUV which again are being designed for the emerging markets.
 
The vehicles are expected to be rolled out from Hindustan Motors’ plant in Chennai.
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