New Launch7 Feb 2025, 10:15 pm
Popular Vehicles & Services Ltd Subsidiary Receives LOI for JLR 3S Facility in Nagpur
AI Summary
Popular Vehicles & Services Ltd (PVSL) announced that its wholly owned subsidiary, Popular Autoworks Private Limited, has received a Letter of Intent (LOI) for establishing a state-of-the-art 3S facility (Showroom, Workshop and Pre-owned Car Section) offering Jaguar Land Rover (JLR) vehicles in Nagpur, Maharashtra. This expansion will enhance the company's presence beyond southern India and strengthen its luxury segment offerings, boosting revenue contribution and expanding its non-Kerala market presence.
Key Highlights
- Popular Autoworks Pvt Ltd received LOI for a 3S facility in Nagpur, Maharashtra.
- The facility will offer JLR vehicles and include showroom, workshop, and pre-owned car business verticals.
- This expansion will enhance the company's presence beyond southern India and strengthen its luxury segment offerings.
- The facility is expected to begin its operation from H2FY26.
- This development aligns with the shared strategy of Popular Vehicles & Services Limited and JLR to broaden their presence and leverage the increasing demand for luxury vehicles.