Force Motors to go ahead with Rs 1,000 cr planned investment

Commercial vehicle maker Force Motors today said it is going ahead with its Rs 1,000 crore investment which it announced last year despite the industry facing a slowdown.

 

"We are going ahead with our Rs 1,000 crore investment despite challenging conditions prevailing in the industry," Force Motors Managing Director Prasan Firodia told PTI.

 

He added the company is investing the amount across its entire value chain including brand building and engineering.

 

The company had last year announced investing Rs 1,000 crore in the next three years.

 

When asked if the company is mulling increasing prices due to depreciating rupee, he said, "We are monitoring the situation. If the rupee continues to tumble like this than price increase would become inevitable".

 

"I think we'll have to take a call on this in the next two months. We are working on it," said Firodia, adding the company's passenger carrier segment has not been impacted by the slowdown.

 

The Pune-based company currently manufactures vehicles in the range of Rs 2 lakh and Rs 14 lakh while its product range comprises of small commercial vehicles, multi-utility and cross-country vehicles, light commercial vehicles and agricultural tractors.