Five auto giants rev up for India

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Swaraj Baggonkar in Mumbai

Five marquee names in the automobile world are gearing up to enter India, the second-fastest growing market globally. Chrysler, Kia, Peugeot, Triumph and Scania are finalising their India blueprint.
The reason is obvious. According to a report by Ernst & Young, India will beat China, North America and Europe to become the fastest growing automobile market.
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France's largest car maker PSA Peugeot Citroen is learnt to have held talks with some state governments for land to set up a manufacturing plant.
The company plans an entry through a 100 per cent India subsidiary.
The French company, which has expertise in making stylish compact cars and sedans that are mostly sold in the European market is expected to make an announcement before the end of the year.
A senior company executive had said an announcement could be made in "a few weeks".
It had held discussions with Japan's Mitsubishi Motors for a joint manufacturing programme, which failed to materialise.
Both companies have a joint plant in Russia. Mitsubishi owns a plant in Chennai where it makes SUVs and sedans.

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US-based Chrysler, which suffered in the recent financial downturn and subsequently filed for bankruptcy protection, is keenly interested in getting its vehicles into India.
About 20 per cent of Chrysler shares are owned by Italian auto giant Fiat, which has an industrial joint venture in India with Tata Motors.
In an emailed reply, a spokesperson of Chrysler said, "India is an important market in the industry, but presently we cannot share our plans or timing."
Fiat is working towards integrating Chrysler into itself and to operate as one entity after it scales its stake in the American company to 35 per cent.

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Kia Motor, the Korean affiliate company of Hyundai Motor Company, whose India subsidiary is the second-largest car maker domestically, has shown interest in launching its small car and SUV range in India.
Many of the models of Kia Motors share crucial elements with the models of Hyundai. Sources said the four-door compact car, Venga from Kia, which shared the platform with Hyundai's top selling premium hatchback, i20, could be one of the first models to be launched in India.

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A Kia spokesperson said: "We are in the initial feasibility study stage and we are yet to confirm our plans to enter the Indian market.
Of course there is always a possibility of using Hyundai's plants to assemble our cars, but there are no confirmed plans to do that in India."
Kia has a big portfolio of vehicles, including hatchbacks, sedans, SUVs, MUVs and even commercial vehicles.
Hyundai Motor India has two manufacturing plants in India, located in Tamil Nadu.