Fresh on the heels of launching its most premium sports utility vehicle (SUV) till date, utility vehicle major Mahindra & Mahindra is now working on three new products with Korean subsidiary SsangYong Motor Company. Product plans for one of these three, most likely a compact SUV, will be finalised in six months.
The company would make the vehicle for domestic market based on the upcoming joint platform while SsangYong will make the global market oriented vehicle, Rajan Wadhera, chief executive, product development, M&M, told HT. “From product planning to commercial launch, it should take a minimum of 2-3 years.”
The company does not plan to go bigger than the XUV500, priced between Rs 10.8 lakh and Rs 12.0 lakh in India.
“The group’s vision is that any vehicle that is bigger (XUV5OO) would be taken care of by SsangYong,” said Rajesh Jejurikar, chief executive, automotive division, M&M.
After its launch in India on Thursday, the vehicle was launched was launched in South Africa on Friday and would be followed by other markets in Western Europe, Australia and Brazil in the next six months. Mahindra is also getting a Euro-V version ready.
While it may not go any bigger, Mahindra is planning to go smaller than the Xylo and Bolero in India. The mini Xylo sub-4 metre utility vehicle would be ready for launch by the end of the current fiscal year, the firm said.