After much speculations on whether Peugeot Citroen would setup shop in Andhra Pradesh, Gujarat or Tamil Nadu, the French car maker has finally selected the latter for its manufacturing facility in India. This plant is being constructed at a whopping cost of Rs 4000 crores. Peugeot joins the rank of manufacturers like Ford, Hyundai, Renault-Nissan and also BMW who have setup their facilities in this state. The Peugeot chosen site is near to the one where Hyundai have currently set up their facility, Sriperumbudur. Initially, the company would be manufacturing close to 3 lakh cars each year. Later on, the capacity can be ramped upto 3.8 lakh cars every year. These cars would not only be sold in India but also suitably exported.
More than 20k people in India would reportedly stand to gain employment from this venture. Peugeot are moving along on their own in India and this is their second innings here. Peugeot are also one of the leading car manufacturers in the continent of Europe. Globally, they are ranked in as the 6th biggest car manufacturer. The Tamil Nadu Chief Minister assured Peugeot Citroen of the government’s full co-operation for their future investments as also endeavors in India.