French auto major Peugeot continue to find themselves on shaky terrain in India even after having unfortunately exiting the country 15 years ago under controversial circumstances.
After showcasing the revolutionary 508 future compact sedan plans at the Auto Expo 2012, Peugeot announced the setting up of a Rs 4,000-crore plant in Sanand, Gujarat. A grim financial situation, coupled with failing sales in the European market, is making the company reluctant towards investment, with an insider revealing the closure of their Mumbai office. However, currently the company is in talks to work out possible alliances with other manufacturers.
