Isuzu acquires land in Sri City, to invest Rs 1500 cr

Japan’s SUV and light truck manufacturer, Isuzu, has kicked off its India innings with the acquisition of 430,000 square metres in Sri City, an upcoming economic zone near the borders of Andhra Pradesh and Tamil Nadu.

The company is slated to invest Rs 1,500 crore and has targeted at sales of 100,000 units yearly in India. It has said it will begin sales of the D-Max pick-up and MU-7 SUV start this month. The D-Max is a natural competitor to the Toyota Fortuner in markets like Thailand, and the company hopes to achieve the same measure of success in India. The company is now setting up two dealerships, one each in Delhi and Mumbai, and will sell the MU-7 to a select clientele. The plan is to assemble CKD kits at Hindustan Motor’s Chennai Car plant. The seven-seater MU-7 is expected to debut soon and will cost in the region of Rs 20 lakh.