PARIS -- PSA/Peugeot-Citroen, which has put a planned factory in India on hold, could eventually expand into the country with a partner, CEO Philippe Varin told a French newspaper.
"We are considering going there later, perhaps with a partner," Varin was quoted as saying in Le Monde on Wednesday. The CEO added that he was open to forming a tighter alliance with another carmaker.
"To succeed, an alliance must fulfill three conditions: It must be coherent with our strategy; there must be substantial, attainable synergies; and lastly, the group must remain independent," Varin said.
He said an alliance with Mitsubishi, which PSA looked at seriously in 2009, did not meet those conditions, but added: "But if other opportunities present themselves, we will study them."
On Wednesday, PSA reported earnings before interest, taxes and one-time gains or costs fell to 1.32 billion euros in 2011 from 1.8 billion euros a year earlier.
In January, PSA said it may delay a 650 million euro ($857 million) plan to open a car plant in Gujarat, where it planned to begin production of a new compact sedan and the Peugeot 508 mid-size model in 2014.
Sources: Reuters and Automotive News Europe