MUMBAI – Hindustan Motors Ltd. (HM) is developing a new survival and growth strategy through financial and business restructuring. The auto maker is spinning off its engine and transmission business into a global joint venture, focusing on doubling its Lancer sales this year and using its 730 acres (295 ha) of surplus land for real estate development. Entry level 1.6L Lancer LX will have lower price. HM’s Pithampur powerplant division makes engines and transmissions for Ford India ...

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