Hindustan Motors to hand over Chennai plant to subsidiary.

Hindustan Motors has handed over the possession of the Chennai car plant at Adigathur, Kadambathur, Tiruvallur, Tamil Nadu, to its subsidiary Hindustan Motor Finance Corporation Ltd., effective March 30, 2014.

The company said that necessary approvals of the lenders at the Tamil Nadu Government and other approvals as may be required are under process.

The unit, which has a capacity to manufacture 12,000 vehicles annually, now makes only Pajero Sport and two models of Isuzu cars - a pick-up van and a sports utility vehicle - as part of a contract manufacturing agreement signed last year.

The Hindu