HMT, Mitsubishi inching close to announcing JV for MUVs

摘要

State-owned Hindustan Machine Tools Ltd (HMT) and Japanese automaker Mitsubishi are likely to announce their joint venture to manufacture multi-utility vehicle (MUV) 'any time' now. The two have been in advanced talks. HMT was scouting for a JV partner for its proposed MUV foray since its move to roll out a vehicle all alone was shelved following the poor show of its indigenously-developed MUV prototype-Garuda. Talking to FE, SK Sharma, chief general manager, HMT Tractors Ltd (Pinjore) said, "Building just a prototype would not help and to develop a MUV is a challenging task and needs to be administered by professionals".