PSA Group buys India’s Ambassador car brand for $12m
February 11, 2017: Claiming it was purchased for a nominal amount of just $12 million US (£9.6m), CK Birla Group (CBG), the owners of India’s Hindustan Motors announced the sale of its Ambassador car brand to PSA Group Peugeot Citroën. Hindustan Motors stopped production of the Ambassador in 2014 while …