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Commercial vehicle maker Force Motors has said that it is going ahead with its Rs 1,000-crore investment which it had announced last year despite the industry facing a slowdown.
“We are going ahead with our Rs 1,000-crore investment despite challenging conditions prevailing in the industry,” Force Motors Managing Director Prasan Firodia told PTI.
He added that the company is investing the amount across its entire value chain, including brand-building and engineering.
When asked if the company is mulling price increase due to depreciating rupee, he said: “We are monitoring the situation. If the rupee continues to tumble like this, then price increase would become inevitable.’’
“I think we’ll have to take a call on this in the next two months. We are working on it,” Firodia said, adding the company’s passenger carrier segment has not been impacted by the slowdown.
The Pune-based company currently manufactures vehicles in the range of Rs 2 lakh and Rs 14 lakh, while its product range comprises of small commercial vehicles, multi-utility and cross-country vehicles, light commercial vehicles and agricultural tractors.
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