Peugeot to launch its first car in India by 2020 and it is codenamed as SC21 smart car project
PSA Group is in process of finalising its suppliers and products in Indian market. The French auto major is gearing up to launch its first product in the domestic market by 2020 and this is codenamed as SC21 smart car project. This upcoming car will be an upmarket hatchback that would be much more affordable than Maruti Suzuki Baleno. There will be two or three variants of this model.
In its meeting with the suppliers, the company is tying up with more than 50 companies that include Motherson Sumi, Uno Minda, Spark Minda and Rane group. Reports suggest, the French automobile group is ready to ask for quotation for components for more than 4 lakh cars and 1 lakh of these will be sold in Indian market, while the other 3 lakh models will be exported to Brazil and South Africa.
Also read: Peugeot to Launch Two SUVs and Two Hatchbacks in India Initially
It is clear that PSA is gearing up to launch its products here in grand scale. Also, the brand aims to make India as its export hub for emerging markets around the world. For its re-entry in the domestic market, PSA joined hands with CK Birla Group to form a new company called AVTEC earlier this year.
To make a strong comeback in India PSA is initially investing Rs. 700 crore. Also, PSA owned French car brand Peugeot purchased the iconic Ambassador brand, which ignited speculation that the iconic car could comeback wearing a modern guise. Apart from making cars locally, PSA will produce powertrains under the joint venture company AVTEC.
Also read: Upcoming Cars in India in 2018 – 30+ Cars
As we reported earlier, Peugeot aims to roll out four products in the country market at its initial phase. These will include two hatchbacks and two SUVs. These hatchbacks are 208 and 308, while the SUVs include 2008 and 3008. Peugeot 208 hatchback has been spied testing in the country already.
Initially, the company plans to bring CKD models here and assemble them locally. However, the latest news indicates, the automaker is also working on completely localised production to achieve competitive pricing.
Source: ET Auto