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Groupe PSA confirmed its plans to enter the Indian market with the launch of the Citroen brand. The French carmaker announced that the first Citroen product will be introduced in India by late-2021.
The plans of Groupe PSA to launch the Citroen brand in the country is part of their global ambition to conquer new markets; India being one of them. The first product will be introduced by 2021-end after the company sets up its powertrain production unit in the country.
The announcement of PSA Groupe entering the Indian market, with the launch of the Citroen brand was made by Carlos Tavares, Chairman of the Managing Board, who stated:
"We have selected Citroen as the brand for our India comeback. We have already invested and created manufacturing footprint in India. We have a powertrain plant, a vehicle plant and a partner in India and we are now building a network to support the launch of this new brand in the country."
Linda Jackson, Chief Executive Officer, Citroen, stated:
"We are very proud to launch Citroen 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 Citroen's selling proposition of unique styling, eco-friendly & comfortable cars at the heart of the market has all the potential to satisfy Indian customers."
The French carmaker announced that the India project was part of the company's plans back in 2017. The 'push-to-pass' plan introduced a couple of years ago, came into effect after the brand signed a joint venture agreement with CK Birla Group.
The brand will be manufacturing vehicles and powertrains in its Indian facility situated in Hosur, Tamil Nadu. The company is said towards a single goal - "be Indian in India."
C K Birla, Chairman, CK Birla Group of Companies, stated:
"Announcement of Citroen 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 & CK Birla Group. It is truly an exciting brand for the Indian consumers seeking international eco-friendly products designed for & made in India with unique styling & comfort."
Thoughts On PSA Groupe Launching Citroen In India
Citroen is a popular brand in the European markets. The entry of Citroen in India will re-launch the second innings of PSA Groupe in the country. The first product from Citroen will be introduced sometime in 2021 and might be an SUV.