KOLKATA: Ambassador, the iconic Indian car brand that till less than a decade ago carried both the Prime Minister and the common man, is being sold to French carmaker Peugeot.
The C K Birla Group-owned Hindustan MotorsBSE 0.64 % formalised the deal for Rs 80 crore on Friday. Production of Ambassador cars had stopped around three years ago, reports The Times of India.
“We have executed an agreement with the Peugeot SA Group for the sale of the brand Ambassador, including the trademarks… We intend to use the proceeds from the sale to clear dues of employees and lenders,” a CK Birla Group spokesperson said.
To those who grew up in the 1960s and 70s, Ambassador wasn’t just a car; it was an inseparable part of India’s urban landscape.
The car’s absence of looks was never in doubt. But in an era of limited choices, the spacious fourwheeler was the preferred choice for most Indians who could afford it. Even today for many, the car remains synonymous with memories of their fonder and younger days and a marker of a more innocent India.
It is not clear if Peugeot will use the Ambassador brand for its cars in India. A questionnaire mailed to the French company remained unanswered.