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French car plan
#Peugeot and #Citreon manufacturer #PSA Group has signed a joint venture agreement with #CK Birla Group in a move to re-enter the Indian market, reported French publication #Les Echos.
PSA left India in late 1990s, ending its partnership with #Premier Automobiles.
PSA is expected to set up an export-oriented manufacturing facility in India, one of the most preferred location, given the mid-class car demand.
It is part of the plan under the “India-Pacific business zone” covering markets in South Asia, Japan, South Korea, Australia and New Zealand.
Earlier reports said PAC Group has set a target to find an Indian partner in two years. fii-news.com
