Chennai, Nov 10 (IANS) French automobile group PSA and India's C.K.Birla group said they had on Friday kicked off their powertrain plant with the ground breaking ceremony at Tamil Nadu's Hosur.
In a statement, the two groups said that the ground breaking ceremony marks the official inception of PSA-AVTEC Powertrain Pvt Ltd - a 50:50 joint venture between Groupe PSA and AVTEC, which aims to manufacture 200,000 units per annum at the plant at Hosur, 310 km from here.
The statement is silent on the investment outlay for the powertrain plant.
The manufacturing capacity for powertrains will cater to the domestic market needs and global vehicle makers.
The PSA group has five car brands - Peugeot, CitroAn, DS, Opel and Vauxhall.
"The ground-breaking ceremony is a key milestone in the deployment of our strategic plan Push to Pass and it reiterates the commitment of Groupe PSA to India," Emmanuel Delay, Executive Vice President India & Pacific, Groupe PSA, was quoted as saying in the statement.
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