Hindustan Motors (HM) plans to double its capacity at its Tiruvallur facility to 24,000 units a year by 2013-14 to support its new launches. The company also plans to launch a premium sedan – Lancer Evolution X – on behalf of its Japanese partner Mitsubishi Motors Corporation. The company is also in talks with other car companies for ‘contract manufacturing’, to roll out their models.
Hindustan Motors is also working on completely overhauling its flagship Ambassador model, with plans for new four variants to be launched within 12-15 months. The C K Birla group-owned entity – which was compelled to report to the Board for Industrial and Financial Reconstruction earlier this year after its net worth eroded by over 50 per cent – may also launch a new brand to increase its non-institutional buyer base.
It will bring out four variants of the Ambassador. The new cars will be differentiated (from existing models) both externally and internally. HM may also introduce a new vehicle in the passenger car segment, which would be only its third after the Ambassador and Contessa models. The first new variant of the Ambassador is slated to hit the market in the first quarter of the next financial year. The proposed new models are likely to be introduced in India in early 2012. But the existing model of the car will not be phased out.
crackcrackCompany Name | CMP |
---|---|
Maruti Suzuki | 12401.40 |
Mahindra & Mahindra | 2506.45 |
Mercury Metals | 70.09 |
Hindustan Motors | 35.16 |
Suzuki (India) | |
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