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Rediff News  All News  » Business » HM to launch new products from Mitsubishi stable

HM to launch new products from Mitsubishi stable

August 28, 2007 09:45 IST

The GP-C K Birla group-promoted Hindustan Motors is planning to launch new products from the Mitsubishi stable in the next six months.

Speaking on the sidelines of the company's annual general meeting, C K Birla, chairman, HM, said, the company was looking at new products from the Mitsubishi stable. The product would be premium sports utility vehicles in the range of Rs 18-25 lakh (Rs 1.8 – 2.5 million).

In August 2006, the company introduced a new model of premium SUV from Mitsubishi Motors, "Montero".

The Mitsubishi-HM collaboration commenced in 1998 and a car manufacturing facility was set up near Chennai.

The Kolkata plant at Uttarpara manufactures Ambassadors, Contessa and multi-utility vehicles, Trekker, Porter and Pushpak. Sales of automobiles during 2006-07 consisting of Ambassador, Lancer, SUV and other utility vehicles was 13,775, an increase of 16 per cent over the previous year.

R Santhanam, managing director, HM, said the sales from the passenger cars, SUV, components and other products should enable the company to achieve higher sales volume as well as better profitability.

BS Reporter in Kolkata