Mahindra and Mahindra is set to roll out a new Sports Utility Vehicle (SUV) in India. This upcoming SUV will be exported to other global markets as well.
The car company is known for dominating the Indian car market with its SUVs and Jeeps over the ages. Mahindra & Mahindra will invest Rs 700-800 Crore in the new product that is expected to be out before the end of the next year.
The project is presently called the 'Global SUV' as the new SUV will certainly capture the global market as people abroad are looking for a value-for-money vehicle.
Pawan Goenka, president, automotive division, of M&M, said the new SUV will be manufactured at the company's Chakan plant in Maharashtra and will be placed a notch higher than the company's flagship model Scorpio. "We are building an all-new SUV and are investing Rs 700-800 Crore for this product that will come at a premium to the Scorpio in terms of pricing and positioning," Goenka said.
"It is being built in such a way that it will give us complete flexibility on what we require from it as per various markets. The basic body structure would remain the same even though the vehicle can be a right-hand drive or left-hand, meet varying safety requirements, or run on different fuels," Goenka said, adding that the first vehicle would roll out with a diesel option while others like hybrid could follow later.
India would also be a target market for the product. "Even though this is being developed as a global product, it will also be sold in India as well," he added. Sources said the new product could be priced at Rs 10 lakh.
Though Mr. Goenka referred to the vehicle as the SUV, it has been revealed that it will be a Crossover, which has riding comfort of a car while carrying the macho looks of an SUV and are designed for off-road capability.
The new vehicle will be pitted against the BMW X3, Honda CR-V, Nissan Rouge and Toyota Highlander.