C K Birla Group company Hindustan Motors(HM), the makers of the Ambassador, is all set to launch a niche car from the Mitsubishi Motors stable soon in the premium segment.
The new car will be a James Bond-like automobile and it could be launched this year as well if everything goes well. The company is gearing up for the launch of the niche vehicle, hopefully, within this year, for which it is awaiting requisite homologation from ARAI (Automotive Research Association of India). HM says that the new car will fire up Mitsubishi Motors’ portfolio in India
HM is investing Rs 75 crore in its Uttarpara factory for the expansion of its castings and forgings business and to set up an assembly line for the newly launched mini truck ‘Winner’. On Friday, the company reported a higher net loss of Rs 21 crore in the first quarter of 2009-10.