MLR Motors to roll out small car in 2011

Hyderabad-based MLR Motors, originally scheduled to roll out its diesel and petrol variants of hatchbacks and light commercial vehicles (LCVs) by January 2009, is revisiting its plans, “as it couldn’t tie up funds for the Rs 1,100-crore project due to the recessionary market”, said managing director M Lokeswara Rao. “Leading banks and private equity players shied away from lending because of the market recession that happened since last October. Now, they are considering infusing funds,” he told Business Standard.