Auto major Mahindra & Mahindra (M&M) unveiled a sports utility vehicle (SUV) -Rexton - at the Auto Expo on Thursday. The SUV comes from the stables of its Korean subsidiary Ssangyong.
M&M said it will develop a platform jointly with the South Korean arm for two new vehicles. The price tag will be announced closer to the launch date. Rexton is likely to hit the showrooms in the next six months.
"We have not yet decided whether we will sell them under the Mahindra brand or the Ssangyong brand," said Pawan Goenka, president, automotive sector, M&M.
"We are developing an all new platform with Ssangyong. It will be for two different products, but with same platform and engine. It will take three to four years to develop," he said.
"When we develop a platform for one product, it takes Rs 600-800 crore. As this will be for two products, it will require more than that amount," he said when asked about investment details.