Force Motors would invest INR 1,000 cr in the next 4 years for activities including new product development and an engine assembly plant for BMW India.
Talking to ET Auto, Mr. Prasan Firodia, MD Force Motors, stated that the company will invest INR 1,000 cr over the course of 4 years in new product development, technology advancement and a dedicated engine plant for BMW in Chennai. This investment is in addition to the INR 1,000 cr announced in 2012.
He also added that Force Motors is currently working on a "completely new van" which will be ready in a few years. Force Motors had been testing the old Mercedes Vito/Viano people carrier but it remains to be seen what the new product is. The new model in question is expected to join the popular Traveller series of vans.
As far as the current passenger vehicle portfolio is concerned, the company launched the Force One 4x4 LX in May.
The engine plant for BMW would have an investment of INR 100 Cr and will come up at Kancheepuram, near Chennai. Without divulging further details, Mr. Firodia said that the facility which would go on stream in January next year would also have significant investment from BMW.
[Source: ET Auto]