Eicher-Polaris rolls out utility vehicle at Rs 2.3L

Eicher-Polaris, the 50:50 joint venture between commercial vehicles and two-wheeler major Eicher Motors and sports vehicles maker Polaris Industries, has launched Multix, its first product for the Indian market, at a price of Rs 232,850 ex-showroom Jaipur Stock Market Trading Tips

Produced in what was earlier the Royal Enfield plant in Jaipur, the Multix is both a "personalutility vehicle" as well as a mobile generator. Equipped with X-PORT, a power-take-off point which can generate up to 3 KW that can be used for lighting homes and powering professional equipment such as drilling machines, DJ systems, water pumps and more, Multix is targeted at "the independent businessman" offering both commercial as well as personal mobility solutions to the customer Free Stock Share Tips

Although the Multix incorporates elements of Polaris product Ranger, it is "basically a ground up product with a completely different powertrain and transmission," said Mike Dougherty, VP, Asia Pacific & Latin America, Polaris Industries. "It is a unique vehicle built with customer inputs for India." And although the JV has used Eicher's existing supplier base from motorcycles and commercial vehicles, there has been no "direct influence" said Siddhartha Lal, MD & CEO, Eicher Motors. The Multix will be sold through an 'independent' Eicher-Polaris dealer network with over 30 dealerships on board from day-one. "We will start showcasing the product and offering test drives in July and deliveries will begin from August," added Lal. The Multix will be launched in 30 cities to start with Personal Numerology Trading Tips

The Multix has been launched in two variants - the higher end MX which offers a closed cabin and is targeted at families and the entry level AX which is open on the sides and is meant for utility purposes. Both variants are BS3 and there will be BS4 versions in the future. "This is what we are focused on for the next 12 months but the product will also evolve in the future," said Dougherty. "Right now the JV is focused on this single product and making it a great success." 

The Multix will be manufactured at Royal Enfield's once-shut plant in Jaipur where "everything has been built from scratch for this product," said Lal. "The current capacity is 5000 vehicles a month but it is expandable to 10,000 vehicles a month Jackpot Trading Tips

The JV, which has invested around Rs 350 crore in this project, is currently not looking exports in the near term. "We're looking at domestic opportunity for the near term," said Dougherty. Also the JV, for now, isn't considering other products from the Polaris stable but will be focused only on the Multix. Other Polaris products, if considered, will be channeled through Polaris' 100% India subsidiary Astrology market books