Force Motors may launch SUV variant next month
It is learnt that the new vehicle is currently going through the process of homologation and roadworthy certification.
In October 2011, Force Motors entered the personal transportation segment with Force One. The vehicle features Mercedes-Benz S-Class engine, produced under a licence from Daimler AG, Germany. "Since the company did not get a positive response for Force One, it is planning to come up with its variant," says a report of Angel Research.
A few months ago, Force Motors sold 50 per cent stake in the heavy commercial vehicles joint venture with Man of Germany, MAN Force Trucks Pvt Ltd.
Debt, cash reserves
Force Motors received Rs 1,014 crore as consideration, which the company used for paring its debt. Debt on the company's books came down from Rs 329 crore in September 2011 to Rs 60 crore as at end March 2012.