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.