Hero Group might enter car market with PSA Peugeot Citroen

Hero Group might enter car market with PSA Peugeot Citroen

Munjal family is said to be in talks with the French car major PSA Peugeot Citroen for a possible venture to manufacture cars in the Indian market.

They are the owners of the Hero Group and the force behind the world’s largest two wheeler manufacturer Hero Honda.

Incidentally, they are already working with Daimler Truck to manufacture and sell trucks and buses in India.

Hero Honda Motors MD & CEO Pawan Munjal spoke about the possibility of this venture: “We have already announced our joint venture with Daimler for trucks and buses. Currently, we have no plans to venture into other four-wheelers. If some business opportunity comes to us, we will welcome it. As of now, we are concentrating on our core two-wheeler business.”

Market sources had this to say: “The Hero Group has the largest distributor network with 2,500 points of sale and is the natural ally for PSA Peugeot Citroen, Europe’s second-largest car maker, which is looking to re-enter India with small cars and mid-segment sedans.”