Force Motors to invest Rs 1,000 cr on new models

On Tuesday the company said it will "almost exit" its JV with MAN Truck & Bus AG by selling 5.58 lakh shares to its German partner for over Rs 1,050 crore.

FP Archives|Dec 20, 2014, 05:19:38 IST

Hyderabad: Pune-based Force Motors plans to invest Rs 1,000 crore in the next two years for development of new models.

On Tuesday the company said it will "almost exit" its JV with MAN Truck & Bus AG by selling 5.58 lakh shares to its German partner for over Rs 1,050 crore.

[caption id="attachment_137996" align="alignleft" width="380" caption="Force Motors"][/caption]

The company, which has a manufacturing capacity of one lakh vehicles in Madhya Pradesh, expected an overall turnover of Rs 3,000 crore in this financial year, Force Motors Managing Director Prasan Firodia told reporters here on Tuesday while inaugurating a showroom for its new sports utility vehicle (SUV) 'Force One'.

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