It has been reported that a novel 'niche' model in the Mitsubishi line-up is being mulled to be launched by Hindustan Motors. The James-Bond like 'niche' car is expected to improve the portfolio of the Mitsubishi in India.

Recently, the Outlander and the Montero SUVs were unveiled by Hindustan Motors, to add up in the Mitsubishi range. "We are gearing up for the launch of a niche vehicle, hopefully, within this year, for which we are awaiting requisite homologation from ARAI (Automotive Research Association of India)," said HM.

The price of the expected niche model has not yet been revealed by Hindustan Motors; however, it has been reported by the company that it had to suffer a loss of Rs 21 crore in the first quarter of 2009-10. Nevertheless, the company still invested a further Rs 75 crore in its Uttarpa factory for new press and castings for its upcoming mini-truck.