13 February 2017

Peugeot buys iconic Indian car brand

Close up Hindustan Ambassadors taxi in New Delhi, India, Monday, Feb. 13, 2017. Over the weekend, the C.K. Birla Group that owns Hindustan Motors said it had signed an agreement with Peugeot SA to sell the Ambassador for 800 million rupees ($12 million).
French car manufacturer Peugeot has bought India's most iconic car brand from its maker Hindustan Motors in a deal that signifies the passing of an era in India's motoring history.
Over the weekend, the C.K. Birla Group that owns Hindustan Motors said it had signed an agreement with Peugeot SA to sell the Ambassador for 800 million rupees ($12 million).