Ssangyong Motors, the South Korean subsidiary of the leading Indian utility vehicle maker Mahindra & Mahindra, will launch four of its global portfolio sports utility vehicles in the Indian market by year 2016.
All of these vehicles will be launched in the country under the banner of M&M, and will be customized as per the needs and requirements of the Indian buyers. Ssangyong had recently showcased a series of its global portfolio vehicles at the Delhi Auto Expo 2012, where these SUVs received and overwhelming response from the SUV enthusiasts and visitors.
Speaking at the Delhi Auto Expo last week, Mr. Pawan Goenka, president, automotive sector, M&M, said, “We have not yet decided whether we will sell them under the Mahindra brand or the Ssangyong brand." He added that the company is developing a 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.
While answering a query regarding the investment plans of the company related to the development of new products, Mr. Goenka 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 that it has been just a year since the company has acquired Ssangyong, thus launch of new products would take some time.
