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|August 10, 1999||
Maruti inks MoU with DGFT for Baleno, Wagon-R imports
Maruti Udyog Limited has signed a memorandum of understanding with the Directorate General of Foreign Trade under the revised Indian automobile policy to import completely knocked down and semi-knocked down kits of its two forthcoming models Baleno and Wagon-R.
With the MoU in place, the company is now all set to storm the Indian roads with its new models.
The Baleno, which will be the first of the three new models to be launched over eight months, would hit the street in November this year, DGFT sources said on Monday in New Delhi.
Baleno would be powered by a 1600 cc engine which would be initially imported from Suzuki Motor Corporation, Japan. The company expects to localise the power train in due course.
The second model in the series would be the 1000 cc Wagon-R which would be introduced by the end of the financial year.
Alto, an upgrade of the existing Zen, would hit the streets in the beginning of the new fiscal and would be introduced in two engine variants of 800 cc and 1000 cc.
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