HM-Mitsubishi plans to launch new vehicles
13 Mar 2008
Mumbai: The Hindustan Motors - Mitubishi Motors joint venture plans to launch a small electric car in the country in the next three years.
According to reports, the vehicle will be a rear engine car capable of running up to 180km on a single charge. The environment-friendly, premium small car has already won Best Tech Car Award in Japan recently.
The two joint venture partners also plan to launch one new model every six months as part of their growth plans.
"We have taken a leadership position in premium SUV segment. We are looking at launching environment-friendly electric I-MIEV (Mitsubishi Innovative Electric Vehicle) model in three years time," Hindustan Motors vice-president and business head Y V S Vijay Kumar said.
The price range of the small car will depend on government subsidy as the vehicle is expected to be more expensive because of the new technology involved, company sources added.
Mitsubishi intends to further consolidate its product portfolio through the launch of the new Outlander SUV, scheduled later this year. The Outlander will be priced around Rs19 lakh, which is in the range of the Pajero.
Mitsubishi Motors came into India in 1998, in partnership with Hindustan Motors. The company has a state-of-the-art car manufacturing facility near Chennai, Tamil Nadu, where the auto maker has invested Rs.320 crore.
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