Chennai: The country's premier car manufacturer Maruti Udyog Limited will make a car targetting the European market some time in 2008-09. According to managing director Jagdish Khattar, the company hopes to make and ship out a minimum of one-lakh units of the model that is on the designer board.
"That is the reason why our exports to Europe are almost nil. On the other hand the exports to non European markets have increased," he said.
According to him, the company would make around 50,000 units to be sold under Nissan brand for the European market. "We would also manufacture models of Nissan though that arrangement is not yet finalised."
The company has planned an investment outlay of Rs9,000 crore for various projects spread over four years.
Meanwhile the company launched its new model Zen Estilo in Chennai on 7 December, 2006, targetting the youth segment. Built on the Alto-WagonR platform, the Zen Estilo is roomier than the original Zen and comes with a bigger engine with a 1061cc capacity.
The new model offers convenient features like power windows on all the four doors, 5-door power locking, internally controlled outsider-rear-view-mirrors and speakers in all the four doors. The top end variant has an option of advanced features such as anti-braking system and airbag protection in the event of collisions.
The company has sold over 7.6 lakh units of original Zen including exports of 1.22 lakh units.