Peugeot to set up facility in India, cars to launch by 2010

Peugeot has been learnt to looking for a site in Andhra Pradesh and Tamil Nadu for its ambitious car project. The company will invest around Rs 1500 crore for the project. It is also not clear whether the French auto major will bring in the Peugeot or the Citroen brand first. However, sources said that Peugeot will roll-out low cost cars in emerging markets like India by 2010. B Sam Bob, principal secretary industries told that a proposal had come sometime back from Peugeot for setting up a facility to make cars there. It was offered land that was earlier offered to the Tata Nano project. Although the first round of evaluation was done, the company is yet to furnish a detailed project report. A team is scheduled to visit Hyderabad in mid-June. A senior Peugeot India official confirmed that the company was evaluating several locations across India and a team from Peugeot is expected in the country in the second week of June to take a decision on the location.