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Force Motors expects to invest approximately ₹2,000 crores over the next three to four years in sustainability and electric car development, according to the company's Managing Director Prasan Firodia. The company, which offers a variety of utility and commercial vehicles, plans to introduce electric versions of its vans in the future gradually.
"The investment will be across conventional engines, EVs, upgrading further engineering facilities, creating a more sustainable environment. It is across the board and across the value chain," Firodia added.
The company, which showcased its Traveller Electric, Urbania Diesel, and Traveller CNG at the Bharat Mobility Global Expo, has embarked on an electrification drive, although it will continue with its conventional engine vehicles.
"On electrification the investment will be anywhere around ₹200 to ₹300 crore," he said, adding the first electric offering will be the Traveller Electric.
Sharing the company's electrification plans, Firodia said, "Consistently, every six months, one after the other, the various variants of Traveller (will be electrified). Also, by the end of the next year, our Urbania will also come with an electric (version)."
He said, "We are also working on non-passenger transport, more personal vehicles like the Gurkha. So, these products will start rolling out (in the electric version) one by one. The first vehicle to roll out in this quarter itself would be the Traveller Electric."
At a company level, Firodia said, "We have gone on a sustainability initiative which spans the next few years. By mid of this calendar year, almost close to 50% of our energy consumed will be 'green energy' at a company level." While the company does not need significant fresh production capacity, he said, "We are planning to install our second large paint shop. So there will be additional capacity to be created from a painting perspective."
When asked about the outlook, he said, "Over the last two years we have grown close to 40% year on year. The current momentum is very strong, and the market sentiment is very strong."
With the government's strong focus on infrastructure, the momentum should remain very positive, he said, adding, "I think we will continue to see 25-35% or more growth over the next few years."
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