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Hindustan Motors plots a comeback; talks on for JV with European co for EVs

MoU signed, due diligence expected to start soon and conclude in 2-3 months; project will start two-wheelers and then add four-wheelers

Hindustan Motors plots return; in talks for JV with European company for EV
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HM, established in 1942 by C K Birla’s grandfather, B M Birla, was the first indigenous carmaker. Ubiquitous in official use, by the 1970s it enjoyed a 75 per cent market share

Ishita Ayan Dutt Kolkata
The country’s first ever carmaker, Hindustan Motors, is looking at a second coming.

Talks are on for a joint venture with a European auto company focused on the electric vehicle (EV) space. A memorandum of understanding (MoU) has been signed and due diligence is expected to start shortly and will take 2-3 months to conclude.

“Initially, the project will launch two-wheelers and subsequently four -wheelers,” said Uttam Bose, director, Hindustan Motors.

While discussions are on for a joint venture, Bose did not rule out the possibility of the company picking up a stake in the C K Birla-owned Hindustan Motors

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First Published: May 24 2022 | 2:35 PM IST

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