Cars in India | Autoportal.com

Hindustan Motors looks to contract manufacturing for its Chennai Plant

Hindustan Motors looks to contract manufacturing for its Chennai Plant

Snapshot: Hindustan Motors looking for an international partner to utilise its Chennai plant

- Comments    |    Write Comment

Hindustan Motors has been on a barren patch since last several years. The company has been facing major financial losses while the demands for its vehicle is shrinking in the market. But now to overcome the financial crunch and to make the possibilities for future better, Hindustan Motors is in talks with several international automakers in a bid to sign a joint venture and authorize its Chennai plant for its new partner to manufacture its models locally.

"We are pinning high hopes on the divestment of the Chennai plant as a part of restructuring strategy," said, Uttam Bose, managing director and CEO of HM. Earlier this year, HM divested its Chennai plant to an associate company, Hindustan Motors Finance Corporation (HMFC) to take its business plans further. At this time, the Chennai plant is being utilised for the assembly of Mitsubishi Pajero Sport, while the MU-7 and D-Max pick-up from the Isuzu lineup are also being assembled at the same plant.

Mitsubishi is planning to bring five new models by the end of 2016 into India (Read here). The new lineup will include company's mid-size sedan Mirage, Pajero Sport automatic and a few others which are all expected to be assembled at the same facility.

Related car news

  • 2017 Bajaj Platina Comfortec spotted at a dealership in Mumbai 26-09-2017 Autoportal Team 2017 Bajaj Platina Comfortec spotted at a dealership in Mumb...
  • Benelli opens new showroom in Kolhapur 26-09-2017 Autoportal Team Benelli opens new showroom in Kolhapur
  • Maruti Wagon R Touches 2 Million Sales Mark 26-09-2017 Mayank Gupta Maruti Wagon R Touches 2 Million Sales Mark
  • Maruti S-Cross Facelift Unveiled; Bookings Start at Rs. 11,000 26-09-2017 Mayank Gupta Maruti S-Cross Facelift Unveiled; Bookings Start at Rs. 11,0...
  • Fiat working on a new SUV based on Jeep Compass 26-09-2017 Autoportal Team Fiat working on a new SUV based on Jeep Compass
  • Tata Nexon launched at Rs 5.85 Lakhs 21-09-2017 Davender Soni Tata Nexon launched at Rs 5.85 Lakhs
Helpline