Force Motors' Global Expansion: Revving up for Growth

Force Motors, renowned for its shared mobility solutions, is gearing up for international expansion and growth in the defense sector. With a significant investment and a focus on core areas, the company aims to enhance production, introduce electric products, and capture new markets in Latin America and Africa.

Force Motors, a leader in shared mobility solutions, is setting its sights on global expansion and defense sector growth. Managing Director Prasan Firodia announced a Rs 2,000 crore capital expenditure plan to modernize operations, embrace digitization, and launch new electric offerings.

The Pune-based automaker is debt-free and significantly focusing on shared mobility solutions with its Traveller and Urbania platforms, alongside entering the defense segment aggressively. Currently holding a 70% market share in the Traveller segment, Force Motors aims to strengthen its international presence in over 20 countries, eyeing additional markets in Latin America and Africa.

Despite modest export revenues, Firodia envisions export volumes constituting a significant portion of the company's business. With its upgraded product platforms and the introduction of the Traveller EV ambulance, Force Motors is poised for robust growth in both domestic and overseas markets, while strategically avoiding the passenger car segment.

(With inputs from agencies.)