Force Motors, is reported to have launched its first SUV Force One, and at Rs 10.65 lakh in Delhi, and the company is using the drivetrain technology gotten from Mercedes-Benz for the SUV, as its Passenger Vehicle Division spent the last one year or more to develop the new SUV.
Also, the company hopes to sell 4,000 units of the SUV in the first year, as the market size for the sector is about 70,000 units a year and the SUV is said to compete with, Mahindra Scorpio, Toyota Innova and the Tata Safari.
However, Force Motors intends to invest Rs 1,000 crore, in the next two years to boost its manufacturing footprint, and the company is presently discussing with the Madhya Pradesh Government to start a new manufacturing plant, with the decision being finalized in the next two months.
Hence, funds are said to be raised by combining of internal resources and loan, as the company might follow the capital market route as well as propose a rights issue.
Moreover, Dr. Abhay Firodia Chairman of Force Group, Stated: “The company may set up a new assembly line at its Pithampur facility or set up a third plant outside the state, and the installed capacity of the new line will be 12,000 units per annum that can be expanded to 24,000 units”.