Sonalika Group,the automobile and agri machinery manufacturer is planning to introduce its first passenger car in the Indian market in the next fiscal year.For this,it has tied up with Italian design house Pininfarina to develop a luxury sedan for the Indian market.
L.D Mittal,the chairman of Sonalika Group said that their first passenger car would be introduced in India in one and a half years. Two other passenger vehicles would follow in another two years. They are exploring the options to market the cars in collaboration with a foreign partner and sell the products under a joint brand name.He also said that they have earmarked an investment of Rs.500 crores over the next two years to develop the cars and to expand capacity for manufacturing the products.
The passanger car would have all the features of a high-end sedan but would be available at half of the cost of a high-end sedan.It would be available in a diesel option powered by a 2-litre diesel engine.The two other passanger vehicles mentioned above are a SUV and a mid-sized sedan.The SUV and the smaller sedan are likely to be priced between Rs.8 lakhs and Rs.10 lakhs.