French automotive group PSA to launch Citroen brand in India

French automotive group PSA on Tuesday said it would launch its Citroen brand of cars in India from its plant near here.In a statement issued here, the PSA said the announcement about Citroen launch in India was made by Carlos Tavares, Chairman of the Managing Board during the presentation of FY 2018 financial results and the second phase of the group`s strategic plan `Push to Pass` for the period 2019-2021.

The French group had announced its India plan in 2017 with the signing of two joint venture (JV) agreements with CK Birla Group to manufacture cars and powertrains in Tamil Nadu.

"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," Emmanuel Delay, Executive Vice President, Head of India-Pacific Region was quoted as saying in the statement.

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"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 and 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", C.K. Birla, Chairman, CK Birla Group of Companies, was quoted as saying in the statement.