Peugeot has acquired all rights to the Ambassador brand. Under this brand, the Indian company Hindustan produced a compact sedan from 1958 to 2014, which can be called the most famous Indian car.
According to The Times of India, the deal amounted to $12 million. They were received by Hindustan Motors, which, in turn, belongs to the CK Birla Group holding.
So far, no one understands how Peugeot will dispose of the brand. The most likely version: Peugeot plans to grow a local brand under which it will sell economy class cars in India.
It should be noted that the Hindustan Ambassador model itself was not 100% Indian, since it structurally repeated the English Morris Oxford of 1956.
In the mid-80s, more than 20 thousand Ambassadors were produced annually. In 2013, the production volume decreased by 10 times, in 2014 the production of the sedan was stopped.
Peugeot has bought the rights to the iconic Indian car. Nobody knows why
