Company History - Force Motors
1958
- The Company was incorporated on 8th September. The Company
manufactured and assembled 3 & 4 wheeler light commercial vehicles
and
diesel engines.
1961
- The Company was converted into Public Limited Company on 12th May.
- The object of the company is to Assembly and manufacture of 3 & 4
wheeler light commercial vehicles and diesel engines.
1965
- In December 1963, 48,645 Bonus shares issued (prop 1:2). 1,85,000
Right shares offered at par (prop. 55:20). 1,77,710 reserved for
allotment to collaborators. 2,90,000 shares offered to the public
in
February 1964. 400 shares allotted to collaborators.
1966
- 1,69,078 shares allotted to the foreign collaborators.
1970
- The Company's collaborators M/s. Honomag Henschal Fahrazeuquarrke
GmbH discontinued the production of the diesel engine D301-E2 in
Germany and agreed to shift the entire used machinery and equipment
required for the manufacture of components of the diesel engine
valued
at Rs 1.50 crores to the Company.
1972
- 3,500 shares forfeited. 7,89,163 Bonus Shares issued (prop.
1:1).
1975
- Allotted 13,800 `A' Equity shares (6,495 in 1975-76 and 7,305 in
1976-77) at par to permanent employees of the company.
1977
- 15,78,326 No. of Equity and 13,800 `A' Equity shares issued as
Bonus
on prop. 1:1 for the respective classes.
1978
- The area vacated by body shop and part of the press shop
departments
in part No. 1 was utilised for the installation of the new machinery
and equipment for the manufacture of the new OM 16 engine in
collaboration with Daimler-Benz of W. Germany.
1982
- The transfer line for the cylinder block of the new OM 616 engine
was
commissioned.
- A Research & Development workshop was set up in addition to new
Research & Development laboratories.
1983
- The Company entered into a technical collaboration agreement with
Daimler Benz AG, West Germany, for the manufacture of light
commercial
vehicles such as Mercedes vans, station wagons and mini buses at
Pithampur.
1984
- 1,15,748 second `A' Equity shares allotted to permanent employees
of
the Company.
1987
- The licensed capacity was increased from 30,000 to 50,000 numbers
per
annum including 5,000 three-wheelers.
1989
- The production facility for manufacture of various rear axles and
and
5-speed Mercedes gear box was fully established. Latest machinery
were
installed with a view to expand the production facility for
manufacture
of axles and Mercedes gear boxes.
- The Company acquired technology from M/s. Flakt Industrial AB,
Sweden
for FP coating of the primer paint.
1990
- During the year, rear wheel driven Matador Max R 307 vehicle was
introduced along with the rear wheel driven bus platform R-407W.
- A new model of a 3-wheeler was developed and test marketed.
- A new commercial tool room was established at the Akurdi, equipped
with the latest CNC 3 dimension die sinking equipment and capable of
manufacturing large panel dies for bodies.
- Also, a modern CAD/CAM facility was established to support the
tool
room activity.
- An agreement entered into with Ricardo Consulting Engineers, for
technology up gradation of D 301 E2 engine, was finalised.
1991
- New models of Tempo Trax called Challenger and Town & Country,
were
introduced in market. Direct injection version of OM 616 engine
offering substantial improvement in fuel economy was expected to be
introduced shortly.
- The Company obtained the technical services of Mercedes-Benz A.G.,
Germany for panel die making.
- The total sales of the light commercial vehicles declined due to
recession in the automobile industry.
1992
- In order to enhance the export sales, a new division `Tempo
International' was created.
- The Company proposed to undertake modernisation of various
important
facilities such as engine manufacturing shop, transmission
manufacturing shop as also founder paint shop, etc.
- A new model of a `Pick-up-truck' version of the temptress was
developed. Also, a new TX-17 gearbox and matching hypoid axle were
introduced on the tempo trax range of vehicles.
- The metador range was further extended with the addition of
`RA307'
model, a further upgraded puck-up truck with an I-Beam rigid front
axle.
1993
- A separate cell was created for `Tractor' development.
- The Company issued 33,00,000 Rights equity shares of Rs 10 each at
a
premium of Rs 90 per share in proportion 1:2. (only 32,52,850 shares
were allotted 47,725 shares were kept in abeyance. (Of these 175
shares were allotted by the Board.)
1994
- Akurdi factory lost production for nearly 5 weeks due to an
illegal
strike.
- The Company has entered into a licence agreement with M/s.
Robert-Bosch GmbH, for the manufacture of Tractor Hydraulics.
1995 - The licensed capacity increased from 50,000 to 60,000 number
of
automobiles per annum.
- 31,100 No. of Equity shares kept in abeyance issued.
1996
- During the year fully indigenously designed, developed and
manufactured Tempo `OX-45' Tractor was successfully launched.
- The Company made a Rights issued of 32,96,446 No. of equity shares
of
Rs 10 each at a premium of Rs 90 per share in proportion 1:3 of
which,
on 27th January 1997, the Company allotted only 32,37,038 shares.
Balance 59,408 shares were kept in abeyance. Only 32,34,451 shares
were taken up.
- Another 13,75,722 No. of equity shares were to be issued to Jaya
Hind
Investments Pvt. Ltd. and Daimler Benz AG, Germany to maintain their
holding at 41.69%.
- Sales suffered due to shifting and relocation of various
production
activities at Akurdi, labour unrest at Pithampur and softening of
demand for company's vehicles.
1997
- Production of vehicle at Pithampur was affected due to a
protracted
industrial relation problem resulting in no production from 2nd June
to
19th July.
- The Company has launched new products in all four segments in LCV
-
`Tempo Excel', utility vehicle-`Trax', Minidor-Auto Rickshaw and
pick-up, Tractors, the `Tempoox' range of tractors.
- The company has entered into an agreement with M/s. Zahnradfabrik
parsoan GmbH, Germany for providing technology for the manufacture
of
Agricultural Tractors.
- 46,412 shares kept in abeyance issued.
- Bajaj Tempo Ltd. (BTL) the flagship of the Rs.1,350 crore Firodia
group started operations in 1959 in technical and financial
collaboration with Daimler Benz, the latter owning 26% of the
equity.
- Bajaj Tempo Ltd. (BTL) plans to set up a third and possibly a
fourth
manufacturing facility.
1998
- Bajaj Tempo will introduce a new generation family of light
commercial vehicles (LCV) in the next few months and phase out the
popular Matador model over a period of time.
- Bajaj Tempo Ltd, the third largest automobile manufacturer in the
HCV/LCV segment has attributed the on-going sluggishness in the
domestic markets to the excise duty.
- The company's proposed four wheel military vehicle will be
christened
as `Gorkha'.
- The company is also launching a second range of Tempo Trax utility
vehicles including the new 4X4 military and cross country vehicle
Trax
Gurkha.
- The situation improved from third quarter, mainly due to improved
sales of 3-Wheeler `Minidor' vehicle.
1999
- Bajaj Tempo Ltd, Pune-based light commercial vehicle (LCV)
manufacturer, which launched its new model, the Excel-4, will launch
its variants in June.
- The company, under technical collaboration with Mercedes Benz of
Germany.
- The first time in the industry, Bajaj Tempo has introduced mobile
service training van equipped with audio visual aids, special tools,
cut section models, to train not only dealers but also the public.
2000
- The Workers will go on strike from May 26th. Work at the factory
has
been affected following a tool down strike by the union which is
affiliated to the Bharatiya Kamgaar Sena.
2001
- The Company will be launching its Minidor three-wheelers running
on
CNG during next month.
2003
-Board allots 33% equity shares of Rs.10 each for cash at a premium
of Rs.90 per share.
-Agrees to procure technology from MAN Nutzfahrzeuge AG, Germany for
4 and 6 cylinder Diesel Engines of higher capacities.
-Signs MoU with Punjab Tractors Ltd and Corporation Bank for
financing Tractors.
2004
-Automobile manufacturer, Bajaj Tempo Ltd, on January 16, 2004
announced that it would enter the heavy commercial vehicles (HCV)
segment in the next 12 months following its technology tie-up with
MAN of Germany.
-Bajaj Tempo inks pact with Andhra Bank
2005
- The Registrar of Companies (RoCs), Maharashtra, issued the
certificate for name change from Bajaj Tempo Ltd to Force Motors on
May 12th and the new name came into effect immediately.
-Force Motors unveils Minidor cB.
2005
-Company has changed its name from Bajaj Tempo Ltd. to Force Motors
Ltd.
2006
-Force Motors signs MoU with Man to set up unit in MP.
2007
- Force Motors Ltd has informed that Mr. R B Bhandari is appointed as
an Additional Director of the Company w.e.f. June 29, 2007.
-Force Motors Ltd has informed that Mr. L Lakshman is appointed as an
Additional Director of the Company w.e.f. September 29, 2007.
2008
-Force Motors Ltd has appointed Mr. Dinesh Chhabra, as an Additional
Director.
-Force Motors Ltd has informed that the Board of Directors of the
Company at its meeting held on June 25, 2008, inter alia, have
appointed Mr. Dinesh Chhabra, as an Additional Director.
2010
- Force Motors Ltd has appointed Mr. Atul Chordia of Pune as an
Additional Director of the Company.
2011
-Force Motors enters into Agreement with Daimler AG, Germany, in
respect of licensing of technology for Multi Purpose Vehicle (MPV).
-Force Motors launches SUV Force One
2012
-Force Motors shakes hand with HPCL for oil supplies
-Force Motors has recommended a payment of dividend of Rs. 10/- per
share (i.e. 100%)
2013
-Force Motors expands it presence with the launch Force One SX and
Force One EX.
-Force Motors launched the Gurkha, the worlds first E.O.V (Extreme
Offroader Vehicle) 4x4x4 at the International Bus and Utility Show
2013 being held at the India Expo Mart, Greater Noida.
2014
-The opening season of the Force Gurkha Rain Forest Challenge saw
Malaysian Tang Eng Joo taking top honours.
-Force Motors is lead sponsor for COEPs Team Nemesis Racing at SAE
Baja 2015 Competition which will be held at Pithampur, Madhya
Pradesh.
-Force Gurkha claims the First and Second position at the The
Rainforest Challenge India 2014.
2015
-Force Motors opens new facility for BMW engines
-Force Motors Chennai plant for building BMW Engines Inaugurated
-Force Gurkha wins Best Competition 4x4 second time in a row
-Force Motors launched its new OX 25 Orchard S-DLX
-Force Motors launches Ox 25 Orchard Tractor
2016
-Force Motors inaugurates Rs 100 cr Pune plant
2018
-Force Motors signs JV agreement with MTU Friedrichshafen GmbH.
2022
-Force Motors launches Urbania van price starts at INR 28.99 lakh.
2023
-Special Application of the Year award for the Traveller Mobile.
