Pune based Force Motors will enter into the passenger vehicle segment with the launch of its sports utility vehicle (SUV) under the Force One brand as informed by Force Motors’ Managing Director, Prasan Firodia, at the launch of the new logo for the vehicle in Mumbai.
Force Motors Managing Director, Prasan Firodia, stated, “We are a good brand in the commercial vehicles segment and now we will foray into the passenger vehicles segment as well. With the market growing in this segment, we want to tap the opportunity.”
The SUV would be launched in July 2011, and the company is targeting to sell 4,000 SUV’s in the first year of its launch, followed by a sale 8,000-9,000 SUV’s in each of the next two years. The company has set up a manufacturing unit with an investment of Rs. 150 crore at Pithampur, Madhya Pradesh. The facility has an installed capacity of 12,000 SUV’s which can be ramped-up further. The company will manufacture 12,000 units per annum initially but will increase its production to 18,000-20,000 SUV’S per annum if the demand rises.
The Force One will come fitted with a 2.2 litre diesel engine and is expected to be priced between 10,00, 000-12,00,000. It will be 70-80% localized while its interiors would be imported. The company also has plans to launch one multi-purpose vehicle in 2012 and an SUV in 2013.