Kerala Automobiles bags Rs 960M order

Kerala Automobiles bags Rs 960M order

Tuesday, 24 September 2002, 07:00 Hrs
Printer Print Email Email
THIRUVANANTHAPURAM: A memorandum of understanding (MoU) to this effect was signed here on Tuesday between KAL and the Liberty Techno Trading Company of Bangladesh. Each three-wheeler will cost $1,325.

KAL managing director R. Sathyaseelan said the company had been performing well and was now making profits.

Liberty managing director Mohammed Sakilu Rahman said Bangladesh was planning new legislation aimed at reducing pollution that would lead to old three-wheelers being phased out. This would generate demand for new three-wheelers.

KAL was incorporated in 1978. It has been struggling to get a foothold in its home state but has made an impact in states like Rajasthan, Punjab and Haryana. It has an 85 percent share of the auto-rickshaw market in Rajasthan.

KAL has failed to make an impact in Kerala because its three-wheelers have engines in the front and the body shape of the vehicles is not in tune with market demand here.

KAL made a profit of 25.8 million in the last financial year. Said Sathyaseelan: "We will soon launch a three-wheeler with a new shape."

KAL plans to roll out compressed natural gas-powered three-wheelers. It has supplied its products to several countries in the past. At present a KAL three-wheeler costs 58,800.

Source: IANS
Write your comment now
Submit Reset