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PSA May Make Cars in India With GM
PSA Peugeot Citroen has scrapped its planned €650 million assembly plant in India and is now considering a plan to share production there with new alliance partner General Motors Co., Reuters reports.
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PSA Peugeot Citroen has scrapped its planned €650 million assembly plant in India and is now considering a plan to share production there with new alliance partner General Motors Co., Reuters reports.
The news service cites the company's Asia chief Gregoire Olivier. PSA suspended its India factory indefinitely in February as part of a broader plant to cut costs by €1 billion this year.
GM tells Reuters it has no plans to assemble cars in India with PSA. The U.S. company makes Chevrolet models there with Chinese joint venture partner Shanghai Automotive Industry Corp. GM CEO Dan Akerson told reporters in Beijing this week that the alliance with PSA will be "Eurocentric," although he says cooperation in Asia and South America also is possible.
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