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The group had made repeated attempts to return to the Indian market. By: PTI | New Delhi | Published:February 11, 2017 9:52 am The CK Birla group is better known for the now discontinued iconic Ambassador car that was manufactured by group firm Hindustan Motors. The iconic brand Ambassador, which used to be a symbol of the high and mighty in power corridors, has changed hands, with Hindustan Motors selling it to European auto major Peugeot for Rs 80 crore. The C K Birla group firm has inked an agreement with Peugeot SA to this effect. As things stand, the manufacturing of Ambassador car has been discontinued. “Hindustan Motors has executed an agreement with Peugeot SA for the sale of the Ambassador brand, including the trademarks, for a consideration of Rs 80 crore,” Hindustan Motors today said in a regulatory filing. Last month, the PSA Group had inked a partnership with the CK Bir...