Eicher Motors hits a new high

Today morning, Eicher Motors announced that its JV with Polaris Industries, USA – Eicher Polaris launched its first vehicle in Jaipur.

Known as Multix, it is India’s first personal Utility Vehicle, thereby creating a new category in the automotive segment. Multix is specially designed for Independent Businessmen, having an estimated population of 5.8 crores in India. Purpose-built, specially designed and powered by a reliable diesel engine, Multixwill be available in two variants and four colors, starting at a price of Rs. 232,850/ -(ex-showroom Jaipur).

Eicher Polaris has made an investment of Rs.350 crores towards product development and setting up a world-class manufacturing facility with state-of-the-art

technology at Jaipur, Rajasthan. The plant has an annual capacity of 60,000 units which can be scaled up to 1,20,000 units. The facility is also equipped with robotic weldlines and in-house paint system.

The moment this news was announced the market celebrated with the Eicher Motors stock hitting a new 52-week high at Rs. 19,675.80. It has since then come off this high and is now at Rs.19,409.