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Mr C.K.-Birla controlled Hindustan Motors (HM) is planning to launch a slew of commercial vehicles this fiscal to improve its top line.
Plans are also afoot to launch two sports utility vehicles (SUVs) from the Mitsubishi stable. The investment for launching the new vehicles is estimated to be Rs 70 crore.
“We are planning to introduce more commercial vehicles this year,” Mr. Manoj Jha, managing director of HM said here on Monday.
He was speaking to newspersons during the launch of 0.8 tonne “small” commercial vehicle “Veer” for Eastern India.
The company would also roll-out CNG versions for national launch.
On future launches, he said that the company has already lined up two new models on Ambassador and Winner platforms. The new models will hit the market in October.
Of the two Mitsubishi SUVs, a seven-seater Mitsubishi Outlander will be launched in the October-December quarter. The second Mitsubishi vehicle will be launched by January 2012 and will be priced below Rs 30 lakh, Mr Jha added.
According to Mr Jha, Hindustan Motors expects to turn the corner by 2013-14, provided it operates at full capacity in all three units in West Bengal, Chennai and Indore.
While the West Bengal facility have a capacity of 2000 units of the Ambassador and Winner a month; Chennai and Indore facilities have capacities of 1000 units each of Mitsubishi and Winner a month.
“We are expecting to earn profits at an annual production of approximately 50,000 units. We hope to reach the targeted levels in 2013-14,” he said.
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