NEW DELHI/PARIS Aug 6 French carmaker PSA
Peugeot Citroen on Wednesday denied an Indian
newspaper report of partnership talks with India's Mahindra &
Mahindra Ltd to share technology and production
The Times of India newspaper on Tuesday reported, citing
unnamed sources, that Mahindra was in talks with Peugeot on a
strategic alliance that would involve technology sourcing,
mutual sharing of production capacity in France and India, as
well as "significant investments".
"The Indian market is obviously important to us for the
future, but at this stage we are not in discussion with anybody
on a rapid return to India. Our current priority is the recovery
of the group," said a spokeswoman for Peugeot.
A Mahindra spokesman declined to comment.
Peugeot left the Indian market in 1997 and several attempted
comebacks have since failed to get off the ground.
Mahindra, which controls Korean carmaker Ssangyong Motor Co
, previously had a partnership with French carmaker
Renault SA to build and sell the Logan sedan in India
which the companies ended in 2010.
(Reporting by Aditi Shah in New Delhi and Laurence Frost in
Paris, editing by David Evans)