As an Amazon Associate I earn from qualifying purchases from

Hindustan Motors to Set Up Joint Enterprise With European Companion, Launch Electrical 2-Wheelers by 2023

Hindustan Motors (HM), the erstwhile maker of the long-lasting ‘Ambassador’ vehicles, expects to arrange a brand new three way partnership with a European associate to fabricate electrical two-wheelers by subsequent yr, a senior official mentioned.

It’d take a look at making electrical four-wheelers at a later date, he mentioned.

Monetary due diligence of each the businesses will begin in July, which is able to take two months, after which the technical elements of the three way partnership will probably be seemed into and this may take one other month, Director of Hindustan Motors, Uttam Bose, instructed PTI.

“Solely then, the structuring of investments (will probably be determined) and the brand new firm shaped, and that is anticipated to be accomplished by February 15,” he mentioned.

Bose mentioned after formation of the brand new entity, two extra quarters will probably be required to provoke the pilot run of the venture, including that the ultimate product is prone to be launched by the top of subsequent fiscal yr.

“After two years of commercialisation of the two-wheeler venture, a call will probably be taken on the manufacture of four-wheeler EVs,” the highest firm official mentioned.

Bose additionally mentioned its Uttarpara plant must be retro-fitted, as a few of the management methods, together with digital {hardware} and software program, want alternative.

He mentioned HM was the one authentic gear producer (OEM) within the nation, having its personal forging, foundry and paint store, in addition to meeting and welding store, making the Uttarpara facility a very built-in vehicle plant.

Nonetheless, the corporate closed down the plant in 2014 resulting from lack of demand for ‘Ambassador’ vehicles, and subsequently bought the long-lasting model to French auto producer Peugeot at a realisation of Rs. 80 crore. It has additionally bought its luxurious automobile model ‘Contessa’ to SG Mobility.

The West Bengal authorities had allowed HM to promote round 314 acres of land on the Uttarpara plant for different use, following which the parcel had been bought to an actual property developer. “Hindustan Motors is making income now and is an entire debt-free firm,” Bose mentioned.

With a present worker energy of round 300, Bose mentioned individuals will probably be chosen for the brand new venture in line with suitability.

When industrial manufacturing commences, round 400 individuals will get employed within the venture, he mentioned.

We will be happy to hear your thoughts

Leave a reply

Enable registration in settings - general
Compare items
  • Total (0)
Shopping cart