Force Motors to invest Rs. 1,000 crore in Indian markets in the next few years

Tuesday 30 October 2012, 11:59 AM by

Indian automobile company Force Motors has decided to invest Rs. 1,000 crore in a span of 3 years in the national circuit. The company plans to launch new models as well as increase production to trigger sales volumes of their vehicles in the domestic market.

Currently, the company owns two plants, one being at Akurdi in Pune and the other at Pithampur. Collectively, the two units have the capacity to roll out 66,000 vehicles per year. As there are not many models of Force cars and SUVs available, the company is not yet popular among the masses.

Chief Operating Officer and President of Sales and Marketing at Force Motors, Mr. Naresh Kumar Rattan, remarked on the move, “We plan to invest Rs. 1,000 crore in the next two-three years.” He was addressing reporters after the launch of Force Traveller, a 26-seater mid-size bus.

To start with, there are immediate plans for a new plant being set up at Pithampur, which will increase the increase the overall production capacity of the company to 80,000 in India. The plan is likely to be materialised in the coming financial year.

Apart from this, a new MPV (multi-purpose vehicle) will be launched by the company in the next fiscal, said Rattan. The vehicle, to be named Traveller 26, will be full efficient by 15 per cent as compared to other cars in the same class and the price would be Rs. 11,07,673 (ex-showroom).

“We are scaling up the volumes to reach a turnover of Rs. 10,000 crore in five years,” Rattan said. According to him, turnover of the company, which was Rs. 2085 crore in the third fiscal of 2011, is expected to rise to Rs. 2,750 crore during the same period this year.

The brand ambassador of the company is the iconic Bollywood star Amitabh Bachchan, which is a big advantage for the automaker. Setting up new units and introducing fuel-efficient vehicles at competitive pricing in the market can be the best bid to make Force Motors a household name in the country.

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