Hindustan Motors has received an approval for entering into a working arrangement with Hindustan Motor Finance Corporation (HMFCL), subject to necessary approvals, if any, whereby HMFCL will be entitled to use and operate Chennai Car Plant of the company at Adigathur, Kadambathur in the state of Tamil Nadu and to use its infrastructural facilities thereat. The board of directors at its meeting held on December 26, 2013 has approved for the same.
The board also approved for divesting of the whole or substantially the whole or part of Chennai Car Plant of the company which is engaged in the business of manufacture and trading of passenger vehicles like Cedia, Pajero, Pajero sport, Montero and Outlander brands of passenger Cars and spare parts of the same in technical collaboration with Mitsubishi Motors Corporation, Japan and also engaged in contract manufacturing of vehicles for Isuzu Motors India Private as a going concern, subject to necessary approvals and consents of the shareholders, lenders, authorities and other concerned parties, in such manner and on such terms and conditions as may be mutually agreed between the company and any interested party.
Hindustan Motors is India’s pioneering automobile manufacturing company manufactures passenger cars, Multi Utility Vehicles and RTV. It also manufactures passenger cars in the mid size premium segment (Mitsubishi Lancer, Lancer Select, and Lancer Cedia) and has brought the Sports Utility Vehicle (Mitsubishi Pajero) into the Indian market, in collaboration with Mitsubishi Motors of Japan.
The board also approved for divesting of the whole or substantially the whole or part of Chennai Car Plant of the company which is engaged in the business of manufacture and trading of passenger vehicles like Cedia, Pajero, Pajero sport, Montero and Outlander brands of passenger Cars and spare parts of the same in technical collaboration with Mitsubishi Motors Corporation, Japan and also engaged in contract manufacturing of vehicles for Isuzu Motors India Private as a going concern, subject to necessary approvals and consents of the shareholders, lenders, authorities and other concerned parties, in such manner and on such terms and conditions as may be mutually agreed between the company and any interested party.
Hindustan Motors is India’s pioneering automobile manufacturing company manufactures passenger cars, Multi Utility Vehicles and RTV. It also manufactures passenger cars in the mid size premium segment (Mitsubishi Lancer, Lancer Select, and Lancer Cedia) and has brought the Sports Utility Vehicle (Mitsubishi Pajero) into the Indian market, in collaboration with Mitsubishi Motors of Japan.
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