International Cars & Motors (ICML), a
Sonalika Group Co is investing Rs.800 crore in the next three years to ramp up
production capacity and in research and development (R&D).
The company has already invested
Rs.200 crore to set up its a sports utility vehicle (SUV) manufacturing unit at
Amb in Una district of Himachal Pradesh. The additional investment will be
utilised to ramp up the production capability from the present 2,000 units per
month to around 5,000 units per month and a part of the investment would also be
utilised in R&D work.
The company is also working on
developing sports utility vehicle (SUV) for which it has tied up with an
international design house.