Five marquee names in the automobile world are gearing up to enter India, the second-fastest growing market globally. Chrysler, Kia, Peugeot, Triumph and Scania are finalising their India blueprint.
The reason is obvious. According to a report by Ernst & Young, India will beat China, North America and Europe to become the fastest growing automobile market.
France’s largest car maker PSA Peugeot Citroen is learnt to have held talks with some state governments for land to set up a manufacturing plant. The company plans an entry through a 100 per cent India subsidiary.
The French company, which has expertise in making stylish compact cars and sedans that are mostly sold in the European market is expected to make an announcement before the end of the year. A senior company executive had said an announcement could be made in “a few weeks”.
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