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Peugeot buys Ambassador car brand from Hindustan Motors

The CK Birla Group signed an agreement to sell the Ambassador for €11 million

Peugeot has bought a famous Indian car brand from its maker Hindustan Motors.

The CK Birla Group that owns Hindustan Motors signed an agreement with the French company to sell the Ambassador for €11 million.

The Ambassador sedan, once used by prime ministers and visiting heads of states, was long viewed as a car of the Indian elite.

Hindustan Motors stopped production of the Ambassador in 2014 with around 2,200 cars sold in 2013.

First manufactured in 1948, the Ambassador was the only luxury car available in India until the mid-1980s.

By the early 1990s, economic reforms opened India's doors to many small car manufacturers.

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