Force Motors, the Pune based commercial vehicle maker that has recently launched its sports utility vehicle Force One in the country, has announced to invest Rs 1000 crore in its commercial and passenger utility vehicle platforms over the period of coming two years.
In a recent statement given to reporters, Force Motors Chairman Abhay Firodia said, "We plan to invest Rs 1,000 crore over the next two years. Of the total amount, we plan to invest Rs 400 crore in the passenger vehicle segment and the rest in commercial vehicles space. The funds will be generated through a mix of internal accruals and other capital raising methods."
Force Motors has recently gained popularity with launching new SUV – Force One – in the Indian auto market. Powered by a 2.2L diesel engine, the Force One is priced at Rs 10.65 lakh (ex-showroom Delhi). The company will start delivering the vehicle to the customers from the starting of next month. In a bid to promote the vehicle among a large number of Indian buyers, the company has signed Bollywood star Amitabh Bachchan as its brand ambassador.
Initially launched in single variant, the new Force One SUV will be rolled-out in two more variants in coming years. In the Initial year of its launch in the Indian market, the company aims to sell 4,000 units of this vehicle. In order to keep the new SUV price competitive, the company has used 76 percent localized content in its manufacturing.
