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Delhi-based commercial vehicle and two-wheeler manufacturer Eicher Motors said it is not interested in foraying in the quadricycle segment for the moment, a segment where its competitors have already started work.
A number of companies including Bajaj Auto, Mahindra & Mahindra, Piaggio have evinced interest in this new segment, which aims to progressively change the intra-city mode of commercial transport
Quadricycles are a new class of vehicles proposed by vehicle manufacturers with approval from the government. The light four wheelers are expected to be an upgrade to passenger three wheelers, more commonly known as autorickshaws.
The concerned ministry looking into the quadricycle segment is believed to have submitted its report to the government and the final draft containing parameters and regulations will be made public shortly. This new segment will have new set of vehicular rules and will not fall under the existing regulations.
Speaking to reporters through a conference call Siddhartha Lal, Managing Director & CEO, Eicher Motors, said, "We are not dependent on any future norms to sell and make this product successful; the current norms will suffice for us”.
Lal, however, mentioned that work on a range of 'personal vehicles' along with joint venture partner Polaris Industries is progressing as per schedule and will hit the market in 2015. Both companies last year signed an agreement to design, develop, manufacture and sell a full range of personal vehicles suitable for domestic and emerging markets.
"The joint venture with Polaris is progressing extremely well and we are on track to meet production timeline of 2015", Lal added. Both companies are pumping in Rs 250 crore towards the new project.
