Mahindra & Mahindra will come up with three completely new vehicle platforms, including one for a compact sports utility vehicle, between 2015 and 2017 as part of its programme to strengthen products range.
The company, which is showcasing a hybrid version of its SUV XUV5OO, said the vehicle will be ready for commercial launch in one year.
"We have been traditionally strong in the big SUV and utility vehicles segment. An area we are not strong is the compact SUV segment, which has seen rapid growth in the past 18 months. We are working on a product to cater to the segment," M&M executive director and president (Automotive and Farm Equipment sectors) Pawan Goenka told PTI here on the sidelines of Auto Expo.
He said the vehicle, to be built on a brand new platform, is expected to be launched in the first half of FY 2015.
Besides, he said with the company setting up an advanced technology centre at Detroit, a team of 25 people have started working on two new platforms.
"One of the platforms is expected to be launched in calendar 2016 and the other in 2017," Goenka said. He, however, declined to disclose details.
He said since the company's focus has been on utility vehicles, SUVs and commercial vehicles, the new platforms would be for those segments.
When asked about investments, he said on a brand new platform it is about Rs 1,000 crore each.
"These are all under our announced investments of Rs 10,000 crore over three years," he added.
This year the company is not launching any fresh models and will bring to market refreshes and variants of existing models.
On the hybrid XUV500, Goenka said: "This is about a year from launch. We have worked on it for two years now with some of the best technology partners, including Bosch, Samsung...." At the expo, the company is displaying Formula E car, a new variant of compact SUV Quanto with automatic gear shift, electric version of Verito sedan.
It is also showcasing Rodius MPV, LIV-1 concept and Rexton with new engine from the stable of its Koean arm SsangYong.