Pricol, the India based automobile firm revealed a new brand identity on Wednesday, and is aiming to double its global revenue by the year 2020. The plan is to enter new markets through acquisitions and venturing into new product segments.
In a regulatory filing statement, Pricol said "India's largest producer of speed governors and cabin tilt mechanisms for the commercial vehicle segment and among the top ten global manufacturers of automotive sensors, Pricol has set a target of doubling its consolidated revenue globally by 2020."
For the financial year 2014-15, Pricol posted revenues of Rs. 1,150 crore, and is looking to close the current financial year with Rs. 1,450 crore revenue.
Vikram Mohan, the Managing Director of Pricol said, Pricol will focus on entering newer markets through acquisitions, tapping new product segments which would be achieved through a very strong focus on innovation with our growing team of over 275 global R&D engineers."
"Our new corporate identity showcases Pricol as an innovative, evolving global automotive component maker with a track record of 40 years of customer service with a passion to excel in every product and service that we provide."
Pricol's customers include brands such as Volkswagen, Fiat, General Motors, Harley Davidson, Mack Trucks, and more.