In a strategic move towards the future, Force Motors, the Pune-based automaker, is charting a substantial investment plan of around Rs 2,000 crore over the next three to four years. The company’s Managing Director, Prasan Firodia, shared insights into the comprehensive investment strategy that encompasses sustainability initiatives, electric vehicle (EV) development, and enhancing engineering facilities.
“At a company level, we are looking at about Rs 2,000 crore investment over the next three to four years,” stated Firodia. He emphasized that this significant investment would be distributed across various segments, including conventional engines, EVs, upgrading engineering facilities, and creating a more sustainable environment, effectively covering the entire value chain.
Force Motors, known for its diverse range of commercial and utility vehicles, is strategically aligning with the future of mobility by venturing into the electric vehicle domain. Firodia confirmed that the investment allocated for electrification is estimated to be in the range of Rs 200 to Rs 300 crore. The company plans to introduce electric variants of its well-known Traveller series in a phased manner.
“The first vehicle to roll out in this quarter itself would be the Traveller Electric,” Firodia revealed. He further detailed the roadmap for electrification, stating, “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).”
Force Motors aims to extend its electric footprint beyond passenger transport to more personal vehicles, with plans for electrifying models like the Gurkha. Firodia expressed confidence in the rollout of these electric versions, asserting that the electrification drive is a key component of the company’s future strategy.
Focusing on sustainability, Firodia highlighted the company’s initiative to shift towards green energy. “By mid of this calendar year, almost close to 50 per cent of our energy consumed will be ‘green energy’ at a company level,” he stated, emphasizing the commitment to environmentally responsible practices.
While Firodia stated that the company does not urgently require significant fresh production capacity, he revealed plans to install a second large paint shop to enhance painting capabilities and accommodate additional capacity.
Reflecting on the market outlook, Firodia expressed optimism, noting, “Over the last two years, we have grown close to 40 per cent year on year.” With a strong focus on infrastructure by the government and positive market sentiment, he anticipates a continued growth trajectory of 25-35 per cent or more in the coming years.
