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French automaker Peugeot is all set to enter the Indian market in 2019 with a slew of new products which will include a hatchback and a compact SUV.
PSA Group, the parent company of Peugeot, Citroen, Opel and DS has acquired the iconic Ambassador brand in February 2017 for Rs 80 crore. The French company owns 50 percent of Ambassador brand with other half owned by CK Birla Group.
Now, Financial Express reports that Peugeot is considering the revival of Ambassador brand in the country. Previously, a PSA spokesperson had stated that the company might be adding Ambassador as a brand of PSA, as Peugeot is not so popular in the country.
Peugeot has not confirmed about the revival of the Ambassador brand, but a huge investment in acquiring the brand itself suggests that a brand name or a car based on the Ambassador could be in the cards for the Indian market.
Peugeot has already formed a joint venture with CK Birla Group to manufacture cars in the country. The company will make use of Hindustan Motors production facility situated in Tamil Nadu. The company has also invested Rs 700 crore in developing powertrains and manufacturing vehicles in India.
Picture credit: Wiki Commons
Initially, the plant will have an annual capacity of two lakh units and the production will be increased in the future with incremental investments. The manufacturing facility is expected to be operational by 2019 and will produce engines and gearboxes which will be also exported to foreign markets.
PSA Group was keen to enter the Indian market with the Peugeot brand, and finally, the French automaker will launch its first car in the country in 2019. A previous report from BW Businessworld states that the first product for India is expected to be the 208 hatchback, which will rival the Maruti Swift and Hyundai i20. The hatchback has been spotted in India bearing local registration number.
Peugeot is also working on a mid-size sedan and a compact SUV which are being developed for emerging markets like India. Expect the first Peugeot car to be rolled out from the company's plant by the end of 2019. Instead of launching several cars at a time, Peugeot will introduce new products in a phased manner.
The Ambassador has been a very popular car in the 1960s and 1970s in the country. Now, Peugeot is mulling the revival of the iconic brand. It might be an all-new car or a brand name. Apart from that, Peugeot will also be launching a hatchback, sedan and a compact SUV in India. Will the new Ambassador repeat the success of its older sibling? Only time will tell.
Picture credit: Wiki Commons