Having announced its tie-up with Japan''s Isuzu Motors for manufacturing buses,
Swaraj Mazda has now unveiled plans to launch trucks next year.
to Yash Mahajan, managing director, Swaraj Mazda, the company will come out with
trucks as well, but will presently focus on chassis for bus applications for the
upper end segment.
first phase will seethe company emphasise its presence in the ultra-luxury buses
segment, while in second phase it would include economy class buses in its manufacturing
line-up. The third phase will see it make ordinary buses.
to Mahajan, the company has received expressions of interest from about 80 customers
across the country for its ultra-luxury buses, which will have a seating capacity
of 40. The company plans to manufacture 100 buses this year.
has partnered with Swaraj Mazda, and the venture will see an infusion of Rs300
crore for the setting up of two manufacturing units in Punjab. The first will
produce Isuzu vehicles, and will have a capacity of 12,000 units per annum, while
the second plant will manufacture bus bodies with a capacity of 7,000 units per
company plans to borrow Rs180 crore from banks, and raise Rs120 crore through
a rights issue. Under the arrangement, Isuzu would supply engines and transmissions
for this project, while 45 per cent of the components would be sourced locally.