Thursday, 3 November 2011

Peugeot to lay foundation ceremony at its upcoming Sanand plant today





French auto-maker Peugeot said it would hold a ground-breaking ceremony for its new manufacturing facility in Sanand on Thursday i.e. today. The announcement comes less than two months after Ford Motors held a similar ceremony in the same area and two days after Maruti Suzuki’s board decided to locate its third facility in Mehsana district.

Peugeot is expected to invest about Rs 4,500 crore for the facility which would have a capacity of 3.40 lakh cars per year. Peugeot’s director general Vincent Rambaud and other top company officials will be present on the occasion. The European car-maker will produce B-plus, C and D class cars for the Indian market. Its model 508 will be the first to roll out in 2014. Company officials have earlier said that certain changes in the C-class cars will be made to suit the requirements of the Indian customer. Later, Peugeot will also bring its hybrid (diesel and electric) vehicles to India. It has already tied up with Ford for diesel engines and with BMW for gasoline engines.

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