Founded in 1962, Groupe PSA is a French multinational manufacturer of automobiles and motorcycles sold under the brand names Peugeot, Citroën and DS Automobiles. It is world’s 10th & Europe’s 2nd largest automobile manufacturer, and operates 16 production sites across 160 countries. With 1, 70,000 employees, Groupe PSA reported a revenue of Euro 54 bn in 2016.
Invest India Support
Invest India shared the opportunities, incentives, regulations and other applicable policies of shortlisted states with PSA. It also facilitated a meeting between PSA and DIPP, followed by feasibility studies and internal discussions to finalize the investment location in India. In January 2017, PSA officially committed an investment of approx. $ 100 mn with the Birla-owned Hindustan Motors for production of cars in Tamil Nadu. In February 2017 Peugeot acquired HM Ambassador brand in India for $ 12 million. The Company will start selling cars from 2020.