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May 12, 2001
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Money > Business Headlines > Report May 12, 2001 |
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Premier ties up with Taiwan firm for MUVsV Phani Kumar After months of inactivity, Premier Automobiles Ltd (PAL) has finally set the ball on roll for restarting operations at the Kalyan plant, owned by PAL-Peugeot. The company has signed a technical and licensing agreement with a Taiwanese firm, China Motor Corporation, for manufacturing its proposed utility van, Galaxy, which is likely to be positioned between the Maruti Omni and Mahindra Voyager. PAL has also initiated talks with suppliers for sourcing components for the vehicle. A core product development team has been constituted to finalise the product details. Already, road tests are being conducted in various parts of the country. Officials confirmed the development, but declined to give details of the launch and the pricing of the vehicle. "It is premature to talk about the launch and pricing as lot of things have to be put in place before that," company officials said. During the financial year ended December 31, 2000, the company had produced just 194 Premier Padmini cars for the taxi segment, of which 111 vehicles were sold. Sources close to the company said that Galaxy is a Mitsubishi-designed 8-9 seater. However, in view of the Union government's decision to do away with different slabs of excise duty on 5 and 8 seater vehicles, the company is also contemplating a five-seater vehicle. The vehicle is likely to be fitted with a 1527cc Peugeot TUD-5 diesel engine. It is also considering CNG versions of the vehicle, the sources added. Interestingly, Mahindra Voyager which is also a Mitsubishi designed vehicle, comes with a Peugeot engine. However, it could not be learnt how PAL is planning to raise the funds required for production of the vehicle, especially since the Kalyan plant has been closed for most part of the last two years. Powered by YOU MAY ALSO WANT TO READ:
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