MLR Motors to enter Indian auto market with 2 diesel cars
February 19th, 2007 Leave a comment Visited 43 times, 1 so far today
MLR Motors to enter Indian auto market with 2 diesel cars
Indian auto market is to get another local player in the form of MLR Motors, promoted by Hyderabad-based Lokesh Machines.
The company is planning to enter the market with two compact diesel cars of 850-900 cc and 1,500 cc in two years.
They are going to start working on these plans starting April this year.
The company is working in partnership with Hyundai Motor India’s former president B V R Subbu. They are setting up an Rs 2,500 crore automobile manufacturing unit near Hyderabad.
LML Managing Director M Lokeswara Rao said in a statement on their plans: “I have already bought the car design.”
The company already is a player in the three-wheeler vehicles market. While the parent company LML manufactures machine tools and automotive components.
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February 19th, 2007 at 12:34 pm
MLR motors would have its work cut out when it enters the maturing Indian market. It will face stiff competition from domestic players mainly Tata which operates at low price points in the diesel segment.