Force Motors bets ₹3,000 crore on vans, EVs as Traveller and Urbania demand accelerates
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Force Motors is investing ₹3,000 crore to expand its van business and develop electric vehicles.
- ✓The company saw retail registrations rise 48.9 per cent during the September quarter.
- ✓"We are ramping up capacity," said Managing Director Prasan Firodia.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Debt-free company targets 80,000 units annually amid 48.9% y-o-y retail growth; exports hit by West Asia disruptions
Pune-based Force Motors is investing ₹3,000 crore over the next two-and-a-half to three years to expand its Traveller and Urbania van business, develop electric and hybrid vehicles, and upgrade manufacturing and engineering capabilities, as a sharp recovery in domestic demand boosts growth prospects.
The debt-free automaker plans to fund the entire investment through internal accruals while increasing installed production capacity to 80,000 vehicles annually from current levels.
"We are ramping up capacity. That investment is not just on capacity increase. It is going into our EV platforms, hybrids, new variants and engineering infrastructure," said Prasan Firodia, Managing Director, Force Motors.
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