ICML Plans Global SUV, To Invest Rs 800 Cr By 2010
Ambala: Presently Sonalika group’s International Cars and Motors (ICML) is working on a sports utility vehicle (SUV) model for which it has joined hands with an international design house and will invest Rs 800 crore by 2010 for expanding overall capacity.
Deepak Mittal, MD, ICML stated, “All we can say is that we have tied up with a global design house to produce a global SUV model, which would be sold around the world. The project may take over three years.”
ICML is the newest participant to the Indian MUV market and had recently instigated its flagship vehicle ‘Rhino Rx’.
“Our aim is to become number one player in the domestic multi-utility vehicle market by 2010 and we would invest an additional Rs 800 crore to more than double our production capacity by then to achieve this goal,” Mittal added.
The company functions out of a constructing facility and has already invested Rs 200 crore to establish the plant. Additionally, it would invest Rs 800 crore to take the manufacturing capacity to 5,000 units per month from the existing present 2,000 units.
Mr. Mittal alleged that the company would start various novel models comprising a Common Rail Diesel injection (CRDi) engine-powered Rhino and a SUV to enhance country sales.
“ICML is presently working on a CRDi engine for Rhino which is expected to be showcased at the Auto-expo next year,” he also said.
ICML has launched its flagship MUV Rhino Rx in select markets of north India and is planning for a pan-India launch by October-November this year.