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Eicher Motors shuts joint venture with U.S. partner Polaris


(Reuters) - Eicher Motors Ltd said on Monday it is shutting down its joint venture with U.S.-based Polaris Industries Inc immediately, as sales failed to meet expectations after the initial success.The equal venture, Eicher Polaris Pvt Ltd, was formed in 2012 to manufacture Multix, which the companies touted as India's first personal utility vehicle to carry passengers as well as cargo."The initial interest could not be sustained and subsequent sales performance was significantly slower than the company's expectations," Eicher Motors said in a statement. Polaris ...

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First Published: Mon, March 12 2018. 11:29 IST