Hindustan Motors, India's oldest automobile manufacturer is in talks with a foreign company for powertrains for its old work horse Ambassador. Currently the Ambassador sports a 1.5 litre diesel which is getting dated with time. Its 2.0 litre diesel engine is under test at the ARAI for its certification, and the petrol, CNG and LPG engines have been upgraded to BS IV complaint.
Hindustan Motors is planning to pump in more funds through its non core business/assets to strenthen its finance. It is also expected that the company might increase its stake with its parter Mitsubishi Motors in India.However the company officials declined to confirm any reports.
HM and Mistubishi JV in India is more than a decade old and offers a unique service of same price for a particular model all over the country under 'One County One Price scheme'. Mitsubishi will launch two new models this year and Lancer Evo sedan will be one of them. The JV will increase their dealerships from existing 16 to 50 during this year.
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