ICML changes plan to launch of World car 'Inspire'
Published On Apr 20, 2009 08:17 PM By CarDekho
Punjab-based International Cars & Motors Ltd (ICML), a Sonalika Group company, changed the plan to launch of world car' inspire' due to the current slowdown and poor condition of car market. It is expected that the car, which was showcased at the Auto Expo 2008, would hit the Indian roads by 2010. ICML executive director, Raman Mittal said that the auto industry was facing difficulties on account of global downturn. It had forced the company to holds down the launch of World Car.
The ICML plans to manufacture the car at Amb in Himachal Pradesh and assemble at various places across the world to cater the export market. The company has proposed to invest about Rs 700 crore in the design and production and it also inked a technical tie up with Italian design house Pininfarina for the World Car project last year.