In a relatively short span since arriving in India in 2012, off road and ATV vehicle specialist Polaris Industries has decided to cease business in this country with immediate effect citing poor business.
Eicher Polaris Private Limited (EPPL) was a JV between India’s Eicher Motors and America’s Polaris Industries. The joint venture began its business by redesigning some of leisure products and converted them into basic utility vehicles for this market. The result of this effort was – Multix — a low-cost, multi purpose vehicle which was launched in June 2015 primarily for the rural markets.
In a statement released to the media, Eicher Motors announced that “the board of directors of Eicher Polaris Private Limited (“EPPL” / “Company”), EML’s equal joint venture with US-based Polaris Industries Inc., at a meeting held on March 9, 2018, passed a resolution to close the operations of EPPL with immediate effect.”