Chennai: The PSA Group has announced that Citroen will enter the India market and will launch its product before 2021-end.
During the presentation of FY2018 financial results and the second phase of its strategic plan ‘Push to Pass’ for the period 2019-2021, chairman of the managing board, Carlos Tavares, confirmed that the Citroën brand has been chosen to enter the Indian market.
Citroën that has been in the market since 1919 is one of Europe’s successful automakers and in 2018, the brand 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 CK Birla Group. The Group’s aim is to “be Indian in India”, to manufacture vehicles and powertrains in the State of Tamilnadu and to bring state of the art technology for an eco-friendly new product range, a release said.
“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 executive vice president, head of India-Pacific Region, Emmanuel Delay.
“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 five consecutive years of growth, I am convinced that Citroën’s selling proposition of unique styling, eco-friendly & comfortable cars at the heart of the market has all the potential to satisfy Indian customers’,” said, Citroën CEO, Linda Jackson.
“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 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 chairman CK Birla Group of Companies, C K Birla.