The PSA Group has confirmed that its Citroen brand will be its launch vehicle for the Indian market and will be the one with which it will re-enter the Indian passenger vehicle market.
Presenting the FY2018 financial results and the second phase of its strategic Push to Pass plan 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 has been chosen to enter the Indian market. The first vehicle is expected before end of 2021 after launch of production of powertrain. In 2018, Citroen sold 1.05 million vehicles in over 90 markets.
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 the CK Birla Group. The Group’s aim is to “be Indian in India”, to manufacture vehicles and powertrains in the State of Tamil Nadu and to bring state- of-the-art technology for an eco-friendly new product range. Further detailed information will be provided at a later stage.
“This project means to be fully integrated in India with a comprehensive eco-system including local production of vehicles and powertrains, distribution of vehicles and services as well as procurements for the whole Group. Today’s milestone represents a significant step to meet customers’ expectation in India soon,” said Emmanuel Delay, executive vice-president, Head of India-Pacific Region.
“We are very proud to launch Citroën 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 Citroën’s selling proposition of unique styling, eco-friendly and comfortable cars at the heart of the market has all the potential to satisfy Indian customers," said Linda Jackson, Citroën Chief Executive Officer.
“Announcement of Citroën 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 and the CK Birla Group. It is truly an exciting brand for the Indian consumers seeking international eco-friendly products designed for and made in India with unique styling and comfort,” said C K Birla, chairman, CK Birla Group of Companies.
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