ICML to roll out world car by 2010

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Hoshiarpur, Jul 13: International Cars and Motors Ltd (ICML), a group company of the Rs 5,000- crore Sonalika group will launch the world car in 2010. The car is being built in partnership with Italy-based Pininfarina group and will be launched first in Europe.

The discussion between the two companies for the world car was on for the last one and half years. “Pininfarina has finalised designs for two models—a seven seater SUV and a five-seater luxury car at its Italy facility, which have been much appreciated and freezed by us,” MD of ICML Deepak Mittal, said.

After its Europe launch, the cars, which will fall in the C segment category, will be subsequently launched in the Indian sub continent and elsewhere. “We will be developing an assembly unit first in Europe and then in South East Asia and later in the US,” added Mittal.

ICML plans to manufacture the Completely Knocked Down (CKD) units for the world car at its Amb plant in Himachal Pradesh and export the components to its assembly plants across the world starting with Italy as “making components in India is cheaper,” said Mittal.

A part of the Rs 700-crore investment by ICML will go into the CKD unit including the designing part. Andrea Pininfarina, CEO, Pininfarina said, “If the feasibility study being undertaken is successful we might enter into a manufacturing contract with Sonalika group for the cars.”

As of now the company has a design and engineering contract with ICML. The car when launched, will be batched by Sonalika under its own brand with Pininfarina’s logo alongside.

The Italian company is also planning to launch an electric car by 2010 and plans to display it at the Paris auto show by the end of this year. The company is initially targeting the European and US markets for the electric car.