Indian automobile manufacturer Force Motors is planning to invest an amount of Rs 1,000 crore by 2014-15 with the aim of developing new car models and expanding its production activities in India. Mr. Naresh Kumar Rattan Chief Operating Officer and President (Sales and Marketing) Force Motors stated the company’s investment plans at a launch event for the 26-seater mid-size bus Traveller.
The automaker plans to set up a new manufacturing unit at Pithampur in the 2013-14 fiscal which would increase its total annual production capacity to 80,000 units. Currently, the company has two manufacturing plants, one at Akurdi in Pune and the other at Pithampur which have a combined annual production capacity of 66,000 units.
Mr. Rattan added that the company also plans to launch a new multi purpose vehicle in the 2013-14 fiscal. The company has also ventured into the personal vehicle segment in India with the launch of the sports utility vehicle Force One.