European auto major Groupe PSA Wednesday formally announced entry of its Citroen brand in India and said it would roll out its flagship SUV model C5 Aircross in the country by the end of 2020.
The company said it is also planning to bring in a range of products after the C5 Aircross that would be made and launched in India before being introduced in other parts of the world.
Groupe PSA Chairman of the Managing Board Carlos Tavares said India is an important market for Groupe PSA to increase its international footprint and revenues.
"With the introduction of Citroen, our aim is to 'be Indian in India' and our association with the CK Birla Group will be important to become a major player in the Indian automotive market," Tavares told reporters while launching the brand here.
The group believes India is a strong opportunity for growth, he added.
Tavares said the group is targeting 50 per cent increase in sales outside Europe by 2021 and, therefore, it is entering different geographies globally.
Groupe PSA is Europe's second-largest carmaker after Volkswagen.
Terming the Indian market as dynamic with high potential, Citroen Brand CEO Linda Jackson said, "We believe we have the right positioning to meet the expectations of the Indian customers."
She further said, "In India, we will be inspired by the Indians... we will develop highly localised cars to meet customer expectations."
When asked how the company's plans to utilise the Ambassador brand, Jackson said, "We are currently in the process of analysing how it can be used as it is an iconic brand we would not like to mean any disrespect to it."
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