News Dated: Saturday,August 20, 2011
Mumbai: Pune-based commercialvehicle maker Force Motors rolled out its first 2.2-litre diesel sports utilityvehicle (SUV) 'Force One,' priced at Rs 10.65 lakh (ex-showroom Delhi
During the launch, officials stated that thecompany would invest Rs 1,000 crore across the passenger and commercialvehicles platforms over the next two years.
"We plan to invest Rs 400 crore in thepassenger vehicle segment and the rest in commercial vehicles space. The fundswill be generated through a mix of internal accruals and other capital raisingmethods," Force Motors chairman Abhay Firodia told reporters here.
The company has roped in Bollywood actor AmitabhBachchan as its brand ambassador to promote the vehicle.
The domestic automaker also plans to launch twomore variants of the SUV over the next two years, managing director PrasanFirodia said.
The SUV market has an annual potential of 70,000units and the company aims to sell 4,000 vehicles in the first year, PrasanFirodia said, adding the first SUV launched from the passenger vehicle platformis 76 percent localised.
Force Motors, known for its light commercialvehicle brands like Tempo, Matador and Traveller has invested around Rs 150crore in developing the SUV, which is being rolled out from its Pithampur,Madhya Pradesh, facility.
The Pithampur plant has an installed capacity of12,000 SUVs, which will be gradually scaled up to 24,000 units, Prasan Firodiasaid.
The Force One will be available at its 22dealerships, he said, adding the number of dealer networks will be expanded to44 by the end of the year.
During the launch, officials stated that thecompany would invest Rs 1,000 crore across the passenger and commercialvehicles platforms over the next two years.
"We plan to invest Rs 400 crore in thepassenger vehicle segment and the rest in commercial vehicles space. The fundswill be generated through a mix of internal accruals and other capital raisingmethods," Force Motors chairman Abhay Firodia told reporters here.
The company has roped in Bollywood actor AmitabhBachchan as its brand ambassador to promote the vehicle.
The domestic automaker also plans to launch twomore variants of the SUV over the next two years, managing director PrasanFirodia said.
The SUV market has an annual potential of 70,000units and the company aims to sell 4,000 vehicles in the first year, PrasanFirodia said, adding the first SUV launched from the passenger vehicle platformis 76 percent localised.
Force Motors, known for its light commercialvehicle brands like Tempo, Matador and Traveller has invested around Rs 150crore in developing the SUV, which is being rolled out from its Pithampur,Madhya Pradesh, facility.
The Pithampur plant has an installed capacity of12,000 SUVs, which will be gradually scaled up to 24,000 units, Prasan Firodiasaid.
The Force One will be available at its 22dealerships, he said, adding the number of dealer networks will be expanded to44 by the end of the year.
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