Eicher Polaris, a 50:50 joint venture between Eicher Motors and Polaris Industries Inc., announced the launch of Multix, India's First Personal Utility Vehicle today, thereby creating a new category in the automotive segment. 'Multix is specially designed for Independent Businessmen, having an estimated population of 5.8 crores in India. Purpose-built, specially designed and powered by a reliable diesel engine, Multix will be available in two variants and four colors, starting at a price of Rs 232,850 (ex-showroom Jaipur),' the company said.
'Multix has a generous cabin space that can comfortably seat a family of five along with luggage, Multix can be adapted to create large storage space of 1918 liters. Multix is equipped with X-PORT ™ - a unique power-take-off point, which can generate power of up to 3 KW that can be used for lighting homes and powering professional equipment such as drilling machines, DJ systems, water pumps and more,' the company said.
Siddhartha Lal, managing director & CEO, Eicher Motors, said, ''We have identified a large untapped segment in Independent Businessmen with an estimated population of 5.8 crores in India, and are committed to create a new and strongly differentiated automotive solution for them through Multix. Our aim is to equip the consumers with the Multix ecosystem and enable them to unlock their potential by accessing a world of new opportunities. We have made an investment of Rs 3.50 billion till date.''
Radhesh C Verma, chief executive officer, Eicher Polaris said, ''Multix is a true ground up innovation. We have looked at every aspect of value proposition delivery, whether it is the vehicle, its accessory system, the retail experience or service thereafter, and have challenged set norms. We have a solution which resonates very well with consumers and we are certain of driving disruptive growth. Multix will be launched in 30 cities to start with. It will be available for test ride in July and deliveries will start in August.''
Shares of the company gained Rs 217.55, or 1.13%, to trade at Rs 19,515. The total volume of shares traded was 3,380 at the BSE (10.15 a.m., Thursday).
