Hindustan Motors has been on a barren patch since last several years. The company has been facing major financial losses while the demands for its vehicle is shrinking in the market. But now to overcome the financial crunch and to make the possibilities for future better, Hindustan Motorsis in talks with several international automakers in a bid to sign a joint venture and authorize its Chennai plant for its new partner to manufacture its models locally.
"We are pinning high hopes on the divestment of the Chennai plant as a part of restructuring strategy," said, Uttam Bose, managing director and CEO of HM. Earlier this year, HM divested its Chennai plant to an associate company, Hindustan Motors Finance Corporation (HMFC) to take its business plans further. At this time, the Chennai plant is being utilised for the assembly of Mitsubishi Pajero Sport, while the MU-7 and D-Max pick-up from the Isuzu lineup are also being assembled at the same plant.
Mitsubishi is planning to bring five new models by the end of 2016 into India . The new lineup will include company′s mid-size sedan Mirage, Pajero Sport automatic and a few others which are all expected to be assembled at the same facility.
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