The French auto major Peugeot is working hard to make a re-entry to the Indian market, where it sees great potential. At this point of time the company is looking for a right partner who would help it in doing business in the subcontinent. Peugeot is looking for its Indian comeback by the end of 2020.
Peugeot was one of the first foreign car makers which made its entry in India as early as 1993, but it failed to capitalize its chance. The company partnered with Premier Automobiles initially but made a quick exit after manufacturing only one car named Peugeot 309 which did nott find much takers. Peugeot decided to shut its Indian operations after a labour strike in its plant, followed by cash crisis and spat with its partner Premier Automobiles. Finall, when all the problems were resolved and the company was about to start on a fresh note, its headquarters in Paris decided to stop its operations in India.
This happened way back in 1997 and since then, there has been many changes both inside the Peugeot Citroen as well as inside the Indian car market.
According to the chairman of PSA, this is the best time for the company to make a comeback. The company is in a affluent financial condition unlike some years ago when the survival of the brand seemed highly unlikely. The company paired up with a Chinese ally named Dongfeng Motors which helped it to recover from its bad financial condition.
According to several reports, Peugeot has explored tie-ups with Tata Motors, HM, Mahindra and Mahindra and Chevrolet. Previously the deal was expected to be finalized by 2015, but it got delayed due to some issues and it could not be finalized sooner.