Vexed Hindustan Motors (HM) is sticking trusts on its late divestment of the Chennai plant and has started converses with worldwide auto firms to set up a joint wander there. The Chennai plant produces autos under permit from Mitsubishi Motors of Japan.
"We are pinning high hopes on the divestment of the Chennai plant as a part of restructuring strategy," managing director and CEO of HM Uttam Bose told PTI. Recently, HM divested the Chennai plant to an associate company Hind Hindustan Motors Finance Corporation (HMFC).
Bose said that the organization was in banters with a few worldwide players in the vehicles segment for setting up a joint wander with the cohort company.
"Talks with the international companies are in an advanced stage and something will fructify definitely," Bose said.
Bose said that the organization was quick to expand joint wander organizations with the chose company which might begin manufacture movement there.
In spite of the fact that he didn't give a time span, Bose said something might solidify inside this money related year. The organization felt that there was a critical need to cut misfortunes, for which it recognized convenient to strip the Chennai auto plant. HM had been enduring misfortunes because of poor interest of its autos like Cedia, Outlander and the age-old Ammbassador auto fabricated at its Uttarpara plant in West Bengal.