Peugeot looking for partnerships to enter India

Speaking to the media at the 2016 Paris Motor Show, Peugeot chief executive Carlos Tavares has indicated about the company’s plans to enter the Indian market in the next couple of years. The CEO also mentioned that the company is currently on the lookout for the right partner to take things forward.

This isn’t the first time that reports about Peugeot's India entry have come to light. The French automaker has been trying to enter India for over 5 years now. It had even opened a corporate office in Mumbai, and acquired land for a production facility in Gujarat in the year 2011. However, the project was shelved due to financial limitations. Recently, the company had also approached Tata Motors for a Joint Venture, though talks were soon called off.

Peugeot had earlier made its Indian debut under a partnership with Premier Automobiles Limited (PAL). The 309 was the first car to be sold under this partnership. Peugeot pulled out of the market after suffering financial losses due to labour unrest and poor dealer services. Several disgruntled customers were duped of the booking deposits they paid for the 309.

Source: Autocar India