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Asia MotorWorks to boost output
Asia MotorWorks, manufacturer of heavy commercial vehicle, is expanding its capacity to 50,000 units per annum from 10,000 currently, a senior company official said.
Updated : Sep 15, 2017, 01:50 AM IST
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MUMBAI: Asia MotorWorks, manufacturer of heavy commercial vehicle (HCV), is expanding its capacity to 50,000 units per annum from 10,000 currently, a senior company official said. The company also has plans of straddling the entire commercial vehicle chain by entering into light commercial vehicle, buses and the van segment.
R C Mangal, senior vice president, marketing, Asia MotorWorks, said “By April, we will expand our capacity to 50,000 units. Any LCV capacity we create would be outside of this 50,000 units.”
Although Asia MotorWorks hasn’t officially disclosed its plans of a LCV launch, the buzz is that the company will unveil its LCV products at Autoexpo, the country’s largest automotive trade fair, to be held at New Delhi in January.
Anirudh Bhuwalka, managing director and chief executive officer, Asia MotorWorks, said the company expects to breach revenues of Rs 500 crore by the financial year 2008. He said the company also expects to achieve a 99% localisation level within a year from 85% at present. “Currently the only thing we import is the gearbox, which will get localised in the next 12 months. Within a month our cabins (currently imported from China) will be localised,” he said.
The company on Monday launched a 49 tonne HCV targeted at heavy project and over-dimensional cargo. Asia MotorWorks claims to have a 70% market share in the 3,000-5,000-units-per-annum, 49-tonne truck segment.
While the overall CV space is currently not growing, the top-end of the HCV space has not been impacted by any slowdown. The company feels that as the road network develops, particularly after the completion of the Golden Quadrilateral project, demand for high capacity vehicles would rise.
Asia MotorWorks also has a fledgling auto component division, which manufacturers wheel rims, stamping and safety components. “By the next year (FY09), our auto component business would be 20% of our overall revenues,” Bhuwalka said, without providing details.
