Caparo India sign technical agreement with Hyundai Motors.
Caparo India Pvt. Ltd. has signed a technical agreement with Hyundai Motor Company of South Korea to manufacture fully assembled luxury buses in India.
Announcing the agreement, Mr. Sunil Pahilajani, Country Head Caparo India said, “It is the combination of Caparo’s ethics, our focus on service, quality and local management and Hyundai’s technological capabilities that will not only make this current project a success, but will lead to a long term association for both organisations.”
The plant, which is due to commence production in 2009, will be located in Southern India. The buses produced will be engineered to provide a higher durability, outstanding stability and quietness during high speed cruising. The buses will be fitted with powerful and fuel efficient Euro III/IV engines, air-wide suspension and ABS systems.
Hyundai Motor Company will provide the technical support which will enable the partnership to meet all the Government regulations concerning the supply and manufacture of commercial vehicles in India.
Caparo is looking to target bus operators with a careful eye on overhead expenses and bottom-line performance. “We are offering a product on a par with global quality standards. We believe our buses will transport people in comfort and style. The buses will have world class technology, looks and luxury” said, Mr. Dev Mukherjee, CEO, New Projects, Caparo India.
This is a venture between Caparo Group and Hyundai Motor Company and it will in no way impact or in any way involve Hyundai Motor Company’s passenger car making unit Hyundai Motor India.