Honda to invest Rs 300cr by 2007-end, rolls out all-new CR-V

New Delhi, Nov 28 (UNI) Honda Siel Cars India (HSCL), leading manufacturer of premium cars in the country, today said the company will invest Rs 300 crore by the end of next year to ramp up the capacity from 50,000 to one lakh cars at its Noida facility.

''Our main priority in India is to tap the local market and our investment plan is Rs 300 crore by the end of next year with a capacity expansion of 1,00,000 units from the existing 50,000,'' HSCI President and CEO Masahiro Takedagawa told UNI here at the launch of all-new, third-generation Honda CR-V.

Speaking about the positioning of the new CR-V, Mr Takedagawa called it a ''premium, urban SUV, which will redefine the SUV segment in India and change the way SUVs are viewed and driven in the country.'' The vehicle has new-age, aerodynamic exterior styling, luxurious interiors and an advanced 2.4 litre i-VTEC engine and other premium features including real-time four-wheel-drive, 6-speed manual and 5-speed automatic transmission with Grade Logic Control and drive-by-wire Throttle System, all ensuring a smooth and effortless drive.

The vehicle is priced at Rs 17.70 lakh (ex-showroom) for the manual transmission and Rs 18.40 lakh (ex-showroom) for the automatic transmission.

The vehicle offers a distinctive combination of 'comfort of a sedan with the sporty drive of an SUV' which delivers a phenomenal torque of 161 ps at 5,800 rpm through its i-VTEC engine.

Mr Tatsuhiro Oyama, Head of Honda's Asia and Oceania operations said, ''The launch of the all-new CR-V in India is part of Honda's global rollout. In view of growing importance of the Indian market in Honda's global strategy, it is launching the vehicle here within two months of its world launch.'' Mr Takedagawa said the new CR-V is targeted to young customers with an average age of 35-40 years.

The SUV is available in new shades including Green Tea Metallic, New Red pearl, Whistler Silver Metallic, Night-hawk Black Pearl and Premium White Pearl.

''It is meant for people who are educated, tech-savvy, well travelled and adventurous and will be Honda's image leader in the Indian market,'' added Mr Takedagawa.

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