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Force Motors Ltd

NSE: FORCEMOT BSE: 500033

₹24341

(-4.38%)

Mon, 09 Mar 2026, 00:55 am

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Company History

1958

  • The company was incorporated on September 8th.
  • The company started manufacturing and assembling light commercial vehicles and diesel engines.

1961

  • The company was converted into a Public Limited Company.
  • The company defined its object as the assembly and manufacture of vehicles and diesel engines.

1965

  • The company issued Bonus shares.
  • The company offered Right shares.
  • The company allotted shares to collaborators.

1966

  • The company allotted shares to foreign collaborators.

1970

  • The company's collaborators discontinued the production of the diesel engine D301-E2.

1972

  • The company forfeited shares.
  • The company issued Bonus shares.

1975

  • The company allotted A Equity shares to permanent employees.

1977

  • The company issued Bonus shares.

1978

  • The company installed new machinery and equipment for the manufacture of the new OM 16 engine.

1982

  • The company commissioned the transfer line for the cylinder block of the new OM 616 engine.
  • The company set up a Research and Development workshop.

1983

  • The company entered into a technical collaboration agreement with Daimler Benz AG.

1984

  • The company allotted second A Equity shares to permanent employees.

1987

  • The licensed capacity increased from 30,000 to 50,000 numbers per annum.

1989

  • The company established a production facility for manufacture of rear axles and Mercedes gear boxes.
  • The company acquired technology from Flakt Industrial AB for FP coating.

1990

  • The company introduced the rear wheel driven Matador Max R 307 vehicle.
  • The company developed a new model of a 3-wheeler.
  • The company established a new commercial tool room at Akurdi.
  • The company established a modern CAD/CAM facility.
  • The company entered into an agreement with Ricardo Consulting Engineers.

1991

  • The company introduced new models of Tempo Trax.
  • The company obtained technical services from Mercedes-Benz AG.
  • The total sales of light commercial vehicles declined due to recession.

1992

  • The company created a new division called Tempo International.
  • The company proposed to undertake modernisation of various facilities.
  • The company developed a new model of a pick-up-truck version of the temptress.

1993

  • The company created a separate cell for Tractor development.
  • The company issued Rights equity shares.

1994

  • The Akurdi factory lost production due to an illegal strike.
  • The company entered into a licence agreement with Robert-Bosch GmbH.

1995

  • The licensed capacity increased from 50,000 to 60,000 automobiles per annum.
  • The company issued equity shares kept in abeyance.

1996

  • The company launched the Tempo OX-45 Tractor.
  • The company made a Rights issue of equity shares.
  • The company issued equity shares to Jaya Hind Investments and Daimler Benz AG.

1997

  • The production of vehicles at Pithampur was affected due to an industrial relation problem.
  • The company launched new products in all four segments.
  • The company entered into an agreement with Zahnradfabrik for technology for Agricultural Tractors.
  • Bajaj Tempo started operations in technical and financial collaboration with Daimler Benz.

1998

  • Bajaj Tempo planned to introduce a new generation family of light commercial vehicles.
  • The company attributed the sluggishness in domestic markets to excise duty.
  • The company launched a second range of Tempo Trax utility vehicles.

1999

  • Bajaj Tempo launched its new model, the Excel-4.
  • The company introduced a mobile service training van.

2000

  • The workers went on strike from May 26th.

2001

  • The company launched its Minidor three-wheelers running on CNG.

2003

  • The Board allotted 33% equity shares for cash at a premium.
  • The company agreed to procure technology from MAN Nutzfahrzeuge AG for Diesel Engines.
  • The company signed a memorandum of understanding with Punjab Tractors Ltd and Corporation Bank for financing tractors.

2004

  • Bajaj Tempo announced its plans to enter the heavy commercial vehicles segment.
  • Bajaj Tempo signed a pact with Andhra Bank.

2005

  • The company changed its name from Bajaj Tempo Ltd to Force Motors Ltd.
  • Force Motors unveiled the Minidor cB.
  • The Registrar of Companies issued a certificate for the name change.

2006

  • Force Motors signed a memorandum of understanding with Man to set up a unit in MP.

2007

  • Force Motors appointed Mr R B Bhandari as an Additional Director.
  • Force Motors appointed Mr L Lakshman as an Additional Director.

2008

  • Force Motors appointed Mr Dinesh Chhabra as an Additional Director.

2010

  • Force Motors appointed Mr Atul Chordia as an Additional Director.

2011

  • Force Motors entered into an agreement with Daimler AG for licensing technology for a Multi Purpose Vehicle.

2012

  • Force Motors partnered with HPCL for oil supplies.
  • Force Motors recommended a dividend payment of Rs 10 per share.
  • Force Motors launched the SUV Force One.

2013

  • Force Motors expanded its presence with the launch of the Force One SX and Force One EX.
  • Force Motors launched the Gurkha, the world's first Extreme Offroader Vehicle 4x4x4.

2014

  • Force Motors sponsored COEP's Team Nemesis Racing at the SAE Baja 2015 competition.
  • The Force Gurkha claimed the first and second positions at the Rainforest Challenge India 2014.
  • The opening season of the Force Gurkha Rain Forest Challenge was held.

2015

  • Force Motors opened a new facility for building BMW engines.
  • Force Motors launched the Ox 25 Orchard Tractor.
  • Force Motors launched the new OX 25 Orchard S-DLX.
  • The Force Gurkha won the Best Competition 4x4 award for the second time in a row.

2016

  • Force Motors inaugurated a new plant in Pune with an investment of Rs 100 cr.

2018

  • Force Motors signed a joint venture agreement with MTU Friedrichshafen GmbH.

2022

  • Force Motors launched the Urbania van with a starting price of INR 28.99 lakh.

2023

  • Force Motors received the Special Application of the Year award for the Traveller Mobile.

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