premier drives back with suv

Premier Ltd makers of the Premier Padmini cars and a name once synonymous with the Indian auto industry is back in business. Formerly known as Premier Automobiles Ltd,the carmaker has launched its compact sports utility vehicle the Rio priced between Rs 5.25 lakh and Rs 5.95 lakh ex-showroom Pune. We will be targeting fun-loving small families for their multi-purpose use with Rio. It is placed between the mid-sized passenger car and larger utility vehicles, Premier chairman and managing director Maitreya Doshi said here after launching the vehicle.

Premier has also inked a five-year component and kit supply agreement with Chinese car maker Zotye Group,which ventured into the field in 2005,to assemble cars at its Pune facility. We have invested around Rs 100 crore to put up the necessary arrangements in the Pune facility for assembling Rio and will infuse additional capital when required, Doshi said.

Established in 1944 by Walchand Hirachand,Premier was one of the first Indian companies to start making automobiles. In collaboration with the USs Chrysler Corporation,Indias first car rolled out of the Premier factory in 1947. In collaboration with Fiat SpA of Italy,Premier first started assembling the Fiat 500 in India. In 1954,came the Fiat 1100,one of the most popular models ever produced. Later it sold the plant and land to Fiat and stopped making cars.