Bajaj Tempo to make foray in HCV segment
Pune-based Bajaj Tempo Ltd announced its plans to enter the heavy commercial segments from 2005 by sourcing technologies from German diesel engine leaders MAN.india Updated: Jan 16, 2004 20:53 IST
Pune-based Bajaj Tempo Ltd (BTL) on Friday announced its plans to enter the heavy commercial segments from 2005 by sourcing technologies from German diesel engine leaders MAN. The company will be manufacturing state-of-the-art trucks ranging from 16 tons to 50 tons load carrying capacity.
Speaking to newsmen in New Delhi, BTL chairman and managing director Abhay Firodia said diversification into HCVs would entail a capital expenditure of Rs 400 crore. "We will meet the fresh investments through internal accruals and borrowings," he added.
The company will be setting up two new manufacturing facilities. Sites are under consideration at Chakan near Pune and Pithampur in Madhya Pradesh for producing engines and vehicles. Initial capacity will be of 6,000 units per annum.
Firodia said MAN will be contributing its competence as technological partner in developing modern vehicles, cabs and engines. Export of components and assemblies to MAN is a part of the envisaged arrangement. He said exports to Germany will commence next this month.
At the Auto Expo, BTL is displaying the full range of load carrying vehicles from 0.5 tons to 50 tons capacity. A range of passenger carriers ranging from seating capacity of 6 to 28 seats.