French automobile manufacturer PSA Peugeot Citroen has zeroed in land in Sriperumbudur, Tamil Nadu to set up its first plant in India. The plant will have capacity of 3,00,000 units per annum catering to domestic and international markets.
PSA Peugeot Citroen is the fifth company after BMW, Hyundai, Ford and Renault-Nissan to set up a plant in Tamil Nadu. Tamil Nadu has been attractive for automobile investments India because of its good labour environment.
The company will create 20,000 jobs in the region and is likely to pull some automotive component manufacturers from France.
PSA Peugeot Citroen is the fifth company after BMW, Hyundai, Ford and Renault-Nissan to set up a plant in Tamil Nadu. Tamil Nadu has been attractive for automobile investments India because of its good labour environment.
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