 "Deal, handshake")
PSA-AVTEC Powertrain Pvt Ltd, a 50:50 joint-venture between French automobile major Groupe PSA, which makes Peugeot and Citroen cars, and CK Birla Group's power-train manufacturing firm AVTEC, has marked its inception with the ground breaking ceremony of its new plant in Hosur, Tamil Nadu to focus on manufacturing and supply of power-trains.
The manufacturing plant is expected to be operational by early 2019.
The plant will have an initial manufacturing capacity at about 200,000 units per year, and would see further investments to support a progressive ramp-up of the long-term project. It had been reported earlier that the two partners
