Peugeot buys HML Ambassador branding


Ambassador car brand sold to Peugeot for β‚Ή80 crore
The CK Birla controlled Hindustan Motors Ltd β€” maker of the iconic Ambassador car β€” has sold the β€˜Ambassador’ brand to French carmaker Peugeot.

According to a notification to the bourses, the β€œbrand and certain related rights” have been sold for β‚Ή80 crore.

Kolkata-based Hindustan Motors had suspended production of Ambassadors way back in May 2014 citing weak demand and lack of funds

Peugeot is a French car manufacturer, part of Groupe PSA.

The family business that preceded the current Peugeot company was founded in 1810, and manufactured coffee mills and bicycles

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