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MLR Motors to roll-out new hatchbacks in India

MLR Motors, a Hyderabad-based auto-maker which is planning to launch new hatchbacks in India, has received sanction of 225 acres of land in Medak district from the state govt of Andhra Pradesh. However, the company hasn't disclosed any details regarding this Rs 1,100 project.

Published On Jun 03, 2010 11:42 PM By Meenal

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The company has outsourced some of its manufacturing processes from third-party players which in turn has reduced the estimated project cost to around Rs 1,100 from the original cost of Rs. 1,250 crore, said M. Lokeshwar Rao, managing director, MLR Motors Pvt Ltd., in a statement to a leading English news daily. Banks will lend Rs 650 crore. The promoters and equity investors will pump in Rs. 200 crore each, while the remaining Rs 50 crore will be borne by the government, he added in his statement.

It is to be mentioned here that MLR Motors, a subsidiary of Hyderabad-based Lokesh Machines (LML), had announced that it was planning to launch two compact diesel cars powered with a 850-900cc and a 1,500cc engines respectively. The MLR Motors currently manufactures three wheelers in the Indian market.

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Meenal

Meenal has been a writer since the time she knew what it is to write. Being a team lead at CarDekho, she guides her team to bring in fresh ideas and true stories to develop a brain storming news for the car enthusiasts across the world. Meenal started writing during her school and is continuing still. Being a post graduate in English Literature with Linguistics, Phonetics, and Grammar as her favorites, she topped throughout. And perhaps that's what helped her starting her career directly as an Editor with international clients from the very beginning. She also has been trained in and has got experience in pre-editing and master-editing journals and books. With almost 5 years of experience in journalism behind her, she still believes that she gets to learn new things about writing news every new day. She plans to start on another degree in psychology. Future plans for her include nothing more than a dynamic GROWTH for herself and SMILES on the readers' faces.