PSA Peugeot Citroen, the leading French car maker, which is all set to mark its re-entry into the Indian auto market with opening a new assembly plant in the state of Gujarat, will create as many as 5,000 jobs in the country. The company will be setting-up its factory in Sanand, Gujarat, with an investment of $928 million.
The Sanand plant of the company will be spread over an area of 243 hectares, and will be having a capacity to manufacture 170,000 vehicles per year. Initiall, the company will be having an engine and gearbox manufacturing facility at this plant and in about two years the company will start producing cars at the plant.
"We're coming alone. That's the first point. Otherwise, since then we have gained huge experience in the international market. We have developed in Eastern Europe, Russia and China. Our experience is much different from what it was at the time. I believe this will certainly be a strong asset for our future presence (in India),” said Mr. Marc Bocque, PSA Peugeot Citroen spokesman, in a recent statement.
The company marked its debut in the Indian market in year 1990, but had to pack-up from India in a few years due to poor sales and labor issues.
This time around, the firm has planned to adopt a top to down approach, according to which it will first establish its brand name in premium segment and then debut in the compact segment a few years after.
