The country's largest car maker, Maruti Suzuki India, said on Monday that it will launch a new van within this fiscal to replace its MPV Versa, whose production has been stopped.
"We will be launching a new van by the end of this fiscal. This vehicle will replace the Versa, whose production has already been stopped," Maruti Suzuki India managing executive officer (engineering) I V Rao told reporters on the sidelines of the Fourth Environmentally Friendly Vehicle Conference in New Delhi.
He, however, did not give the price point of the soon-to-be launched vehicle.
MSI is also looking to produce one million vehicles by the end of this fiscal.
"Hopefully, we will have one million units in production by the end of this financial year by utilising our full capacity," Rao said.
He added the company is working on making all its models Bharat Stage-IV compliant as required under the government norms.
"We have not completed BS-IV compliance norms on all our models but we are working towards that direction," Rao said.
The company is also working on hybrid and electric vehicles for demo cars, but Rao said it has no plans for a full-fledged launch of vehicles with such alternative fuel technologies.
