 "Force Motors to invest Rs 1,000 cr on new models")
Hyderabad: Pune-based Force Motors plans to invest Rs 1,000 crore in the next two years for development of new models.
On Tuesday the company said it will “almost exit” its JV with MAN Truck & Bus AG by selling 5.58 lakh shares to its German partner for over Rs 1,050 crore.
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The company, which has a manufacturing capacity of one lakh vehicles in Madhya Pradesh, expected an overall turnover of Rs 3,000 crore in this financial year, Force Motors Managing Director Prasan Firodia told reporters here on Tuesday while inaugurating a showroom for its new sports utility vehicle (SUV) ‘Force One’.
Talking about Force One, Firodia said that the turbo- charged heart of the SUV, the 2.2 FM tech Engine, beats faster than any other SUV in its segment.
PTI