PSA Peugeot Citroen (PSA) carmaker from France is finalising plans to set up its first car manufacturing facility in Tamil Nadu at an investment of Rs. 4,000 crore.
PSA Peugeot Citroen joins the list of automobile manufacturers like BMW, Hyundai, Ford and Renault-Nissan that have already set up a plant near Chennai.
PSA has identified land at Sriperumbudur to set up a plant with an initial capacity of three lakh cars per year, catering to the domestic and overseas market.
The company would provide direct and indirect employment to 20,000 people at the facility, besides also attracting a large number of auto-component manufacturers from France , it said.
PSA is the second largest automaker in Europe and is ranked as the sixth largest automobile manufacturer globally.