NEW DELHI/PARIS (Reuters) -- PSA/Peugeot-Citroen denied an Indian newspaper report of partnership talks with India's Mahindra & Mahindra to share technology and production facilities.
The Times of India newspaper on Tuesday reported, citing unnamed sources, that Mahindra was in talks with PSA on a strategic alliance that would involve technology sourcing, mutual sharing of production capacity in France and India, as well as "significant investments."
"The Indian market is obviously important to us for the future, but at this stage we are not in discussion with anybody on a rapid return to India. Our current priority is the recovery of the group," said a PSA spokeswoman.
A Mahindra spokesman declined to comment.
PSA left the Indian market in 1997 and several attempted comebacks have since failed to get off the ground.
Mahindra, which controls Korean carmaker Ssangyong Motor Co , previously had a partnership with Renault to build and sell the Logan sedan in India, which the companies ended in 2010.