The expected investment for the joint venture with the European company, according to Uttam Bose, managing director and chief executive officer of Hindustan Motors, will be Rs 600 crore, but the details will be released next year.
The new electric Ambassador will be produced at Hindustan Motors' Uttarpara facility in Kolkata.
Hindustan Motors' famous Ambassador is set to get back in the saddle with another electric model.
As indicated by reports, Hindustan Motors is working together with French carmaker Peugeot on the plan and motor of the EV "Amby".
"We have recently begun the R&D (innovative work) work. This hatchback variant of the Ambassador will have a wide range of elements and better inside, which a trendy client searches for," Uttam Bose, overseeing chief and CEO of Hindustan Motors, told Business Standard.
Addressing Times of India, he said that work is in progress to draw out the 'new look' Amby. "Mechanical plan work for the new motor has arrived at a high level stage."
Bose added that the assessed speculation for the joint endeavor with the European organization would be Rs 600 crore, yet the subtleties would be reported one year from now.
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