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DaimlerChrysler not to hike stake in Bajaj Tempo

The US-German auto major DaimlerChrysler will not hike its stake in the Pune-based Bajaj Tempo Limited beyond its existing 16 per cent holding, BTL Chairman and Managing Director Abhay Firodia said in New Delhi at the Auto Expo 2000.

Ruling out the possibility of offloading further stake in favour of DaimlerChrysler, Firodia said, ''Our relationship with DaimlerChrysler is of the same equity interest as it was earlier and we would continue supplying them with gear boxes and components such as sheet metal parts.''

''With the installation of the SAPR3 (enterprise resource planning software) and one of the best R and D centres, tool rooms, high class engine, transmission and manufacturing facility, we are looking forward to a competitive market with our new light commercial vehicles, multi-utility vehicles, tractors besides upgraded version of three-wheelers,'' Firodia said.

In the current fiscal, we have already supplied 2000 gear boxes to DaimlerChrysler, he said.

The company, Firodia said, has already invested Rs 3 billion in modernising and expanding its product range. ''We are capable of producing our vehicles indigenously.''

He further stated that BTL's Matador will be phased out from March 2000 and its replacement would be available in the upgraded versions of Tempo Excel 2, 3, 4 on a truck chassis.

A Matador variant is available in the form of Mercedes-designed Tempo Traveller. The Matador would be done away with as it is aged, Firodia said.

The Excel 2 has a two-tonne payload capacity, while the Excel 3 three-tonne payload and Excel 4 four-tonne payload.

The old three-wheeler Hanseat is also being phased out and replaced by a far more refined vehicle -- a six-seater Minidor, a Euro-I compliant autorickshaw. Regarding the Euro-II compliancy, Firodia said, ''Such a package can be grafted within a three-month period.''

He further said the company does not have any plans to foray into the car segment as the sector is overcrowded. ''There are too many players in the field.''

He also stated that the company, at present, is not contemplating to come out with CNG version of Minidor six-seater autorickshaw.

In the Ox family of tractors, while Mercedes OM 616 engines would be used in 35 to 45 HP tractors, D 301 engines would be fit in 25 HP tractors.

In the MUV category, Judo and Gama were unveiled.

While Judo is driven by OM 616 engine with 2399 cc displacement, Gama has TD 2650F engine and is targetted at the rural and sub-urban market.

Ox25, on the other hand, has a pin shift gearbox eliminating the need for clash gear shifting.

The company has produced 6,000 light commercial vehicles, 12,000 three-wheelers, 1,500 tractors and 6,000 utility vehicles during the first nine months of this fiscal.

''We have a production capacity of 48,000 four-wheelers, 24,000 tractors and 24,000 three-wheelers, and if we attain that in a span of three years, we expect to generate Rs 20 billion," Firodia said.

Business