Peugeot May Build Factory in India to Tap Growing Demand

Before you go, we thought you'd like these...
Before you go close icon
PSA Peugeot Citroen (PEUGY), France's biggest carmaker, may build a factory in India to tap growing demand for cars in the country, Bloomberg News reported.

The company may spend around 700 million euros ($881 million) on the factory in the southern state of Andhra Pradesh, Bloomberg News said without naming its sources. The factory would have the capacity to produce 100,000 cars a year.

"There is enough space for manufacturers to grow as the Indian economy expands and aspirations rise," Ammar Master, a Bangkok-based analyst at J.D. Power & Associates told Bloomberg News. "It is a good thing if PSA enters the market as it's the last major global automaker left to come to India."

Peugeot executives will decide on the project later this month.
Read Full Story

Markets

S&P 500 2,341.59 -2.39 -0.10%
DJIA 20,550.98 -45.74 -0.22%
NASDAQ 5,840.37 11.64 0.20%
DAX 12,055.03 58.96 0.49%
NIKKEI 225 19,202.87 217.28 1.14%
HANG SENG 24,345.87 152.17 0.63%
USD (per EUR) 1.09 0.00 0.00%
USD (per CHF) 0.98 0.00 -0.14%
JPY (per USD) 110.31 -0.46 -0.41%
GBP (per USD) 1.26 0.00 0.01%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners