PSA Acquisition of Ambassador
- The PSA group has announced the acquisition of Ambassador, an Indian firm which belonged to the Hindustan group between 1957 and 2014 and manufactured the Morris Oxford sedan produced in England between 1954 and 1958. The Ambassador was first a high-range car for senior officials and members of the Indian government, which afterwards became the favorite car for taxis. There are 600,000 Ambassadors in circulation in India today. The Calcutta plant that manufactured the Ambassador has been closed since 2014 and the PSA group does not plan to reactivate it, preferring to establish operations in Chennai, where many manufacturers are already present, such as Renault-Nissan, Ford and Hyundai-Kia.
- The French manufacturer plans to build 100,000 new generation cars per year , marketed under the Ambassador brand which remains very well known in India . Production in JV with the Indian group CK Birla (new owner of Hindustan) could start in 2020 and would allow the PSA group to regain footing on Indian soil after its experience of the 90s.
- The acquisition of Ambassador by PSA constitutes an important new step in their strategy of implantation and expansion in emerging markets, after North Africa, sub-Saharan Africa, and Iran.
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