Atul Auto, a dominant player in the three-wheeler market is planning to invest about Rs 200 crore on a foray into the light commercial vehicle (LCV) segment. The products are likely to hit the road by December 2012. The company will generate the said investment through internal accruals and debt. Initially, the company plans to manufacture around 24,000 units of 600-1,000 tonne light commercial vehicles annually.
The company is now actively looking for a foreign partner for technology collaboration. The company will finalize a suitable partner within two months.
Recently, the company had announced that it is planning to foray into the agriculture machines business. In this regard, the company is in talk with Gujarat-based company for the acquisition and it is expected to be completed by end-June this year.
Atul Auto is a leading manufacturer of 3-Wheeled Commercial Vehicles in the state of Gujarat, presently engaged in the manufacturing of Three Wheelers like 6-seater Auto Rickshaws, Pick-Up Vans and Chassis of Passenger Vehicles.
| Company Name | CMP |
|---|---|
| Bajaj Auto | 9551.40 |
| Hero MotoCorp | 5032.95 |
| TVS Motor | 3500.45 |
| Eicher Motors | 7088.25 |
| Ather Energy | 898.80 |
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