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Atul Auto eyes LCV foray, scouting for a foreign partner

Atul Auto eyes LCV foray, scouting for a foreign partner
PTI
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First Published: Sun, Apr 24 2011. 12 04 PM IST
Updated: Sun, Apr 24 2011. 12 04 PM IST
Mumbai: Having cemented a strong position in the three-wheeler segment, the Rajkot-based Atul Auto, is now looking to collaborate with a foreign entity to enter the four-wheeler market.
“We are keen to collaborate with a company whose technology will help us manufacture light commercial vehicles (LCVs),” Atul Auto’s director, Vijay Kedia, told PTI.
Kedia has been touring abroad for the last one month scouting for a partner to tie-up with.
“We have not finalised anything yet, but we are keen to collaborate with a foreign company,” he said, adding, “I will travel abroad again soon to visit more plants.”
Earlier, Atul Auto was interested in acquiring a majority stake in Scooters India, an ailing public sector undertaking in which the government was mulling a divestment.
“We are still keen to acquire Scooters India as both (Atul Auto and Scooters India) make similar products in terms of front-engine three-wheelers. Therefore, it will be a right combination for us. But no development is happening from the government side,” Kedia said.
The BSE-listed company plans to double its capacity in both the passenger as well as commercial vehicles segments from the current 24,000 units to 48,000 units by 2011.
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First Published: Sun, Apr 24 2011. 12 04 PM IST
More Topics: Atul Auto | LCV | Auto | Sales | Scooters India |