Sunday, July 31, 2005
HM-Mitsubishi to expand business in India
MITSUBISHI Motors Corporation of Japan one of the biggest brands in the automobile segment is all set to expand its operations in India jointly with Hindustan Motors Ltd. Hindustan Motors now makes Mitsubishi's Lancer sedan and assembles the Pajero sports utility vehicle, at its plant on the outskirts of Chennai. According to the agreement the two companies will work together in "driving forward MMC (Mitsubishi Motors Corporation) business strategy in India". Hindustan Motors is also expected to explore the possibilities of supplying Mitsubishi with automotive parts made in India. Hindustan Motors would start producing another model in the Lancer range in January 2006. Hindustan Motors would also add other Mitsubishi models such as Pajero, Outlander and Grandis to its line up of imported built-up models. All these brands would be sold through Hindustan Motors' sales network. In 2004, Hindustan Motors sold about 2,200 units of the Lancer and Pajero.