Eicher Polaris looks to sell Multix in metros, overseas
As part of its international foray, the company will roll out Multix in Nepal next month while it is also exploring opportunities in Bangladesh and African countries.
Eicher Polaris Pvt Ltd was established in the year 2012 and is a fifty-fifty joint venture between Eicher and Polaris. They invested a sum of 420 Cr INR till date. They launched the country's first personal utility vehicle (PUV) Multix that is an extremely adaptable 3 in one solution. Eicher is a prominent player in the India commercial vehicle space. The company has the iconic "Royal Enfield" motorcycle brand. The company is also a proven expertise in frugal engineering and lean manufacturing. Polaris on the other hand is a leader in power sports industry. They have a proven track record of creating categories. They also have excellent product development capabilities and world class reliability. Multix is a three in one solution. It is a comfortable seating for family of five that has 1918 litre space and power generation capacity of 3KW. It is specially designed Pro-ride independent suspension & high ground clearance 225 mm. It delivers best in class riding experience on all sorts of roads. Their tubular frame structure and roll over protection system provides structural stability and reinforced safety. The company's price starts at Rs 2.32 lacs only. The company has a world class manufacturing facility available at Jaipur. It has a capacity of about 60,000 units per annum. It can be scaled up to 1, 20,000 units. It is also equipped with robotic weld lines and in-house paint systems. Their product is now available in thirty locations in the country in a span of just two years.
As part of its international foray, the company will roll out Multix in Nepal next month while it is also exploring opportunities in Bangladesh and African countries.
The company flagged-off its first lot of exports of the Multix from the company’s plant in Kukas in Jaipur today
In its first year of launch, Multix was rolled out in 30 markets starting August 2015 and is now present in 13 states and over 70 markets. The company plans to expand its dealership network to over 150 towns by Q3 of 2017 with the BS IV compliant Multix variants.
The Multix is priced at a Rs 3,19,000 (ex-showroom Kolkata) with a special advance booking package at Rs 2999.
Through this partnership, Bank of India intends to offer vehicle financing options to prospective Multix’s consumers across India.
Pankaj Dubey has been associated with Polaris India since the time of the company’s inception in January 2011 and introduced Indian Motorcycles and Polaris Off-road vehicles in India.
Under the ‘24X7 Support’ program, customers will be covered for free under the warranty timeline of one Year. 'Multix 24X7 Support’ will be available in 3500 locations spread across the country
For production, the company has set up a manufacturing facility at Jaipur with a capacity of 60,000 units of Multix.
48 year old Dubey has been serving as Managing Director of Polaris India since January 2011, at the time of the company’s inception.
The company saw a 10% fall in revenue. Despite the fall, the company has impressed the market because of a robust growth in profit.
Multix boasts of three-way functionality, and can be used as people carrier, goods carrier and also a power generator
The net profit for Q1 of FY-16 stood at Rs 43.34 crore versus Rs 28.74 crore profit posted by the company for the same period last year
Launched in June 2015, Multix is India's first personal utility vehicle for independent businessmen. Through this partnership, Chola will offer vehicle financing options to prospective Multix’s customers across India.
The 50:50 joint venture between Eicher Motors and Polaris Industries has invested a total of Rs 350 crore. The vehicle may take on the likes of Mahindra Maxximo
Name | DIN | Designation | Date of joining | |
---|---|---|---|---|
Michael Todd Speetzen | Unlock to View | Unlock to View | Director | 14 Jul,2016 |
Pankaj Dubey | Unlock to View | Unlock to View | Wholetime Director | 04 Nov,2015 |
Govindarajan Balakrishnan | Unlock to View | Unlock to View | Director | 12 Feb,2015 |
Siddhartha Vikram Lal | Unlock to View | Unlock to View | Director | 20 Nov,2012 |
Michael Douglas Dougherty | Unlock to View | Unlock to View | Director | 20 Nov,2012 |
Lalit Malik | Unlock to View | Unlock to View | Director | 10 Oct,2012 |
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