M&M WORKING ON JOINT SUV PLATFORM

MUMBAI: Mahindra and Mahindra Ltd and its South Korean unit SsangYong Motor Co are working on a raft of new vehicle development programmes in a bid to strengthen their positions in the SUV market and meet stricter emission norms, said top executives of the two companies.

In the works is a joint global platform that will spawn two models each for Mahindra and Ssangyong and an all-electric SUV. The South Korean automaker, which controls 25% share in the East Asian nation’s SUV market, envisages sales of 240,000 units (including exports) and revenue of six trillion Korean won (about ₹34,000 crore) by 2019. Among other things, it would be propped up by the launch of the new generation Rexton, its flagship SUV model, which will go on sale in South Korea next month, said chief executive and president Choi Johng-sik on Tuesday.

Mahindra acquired the troubled South Korean firm in 2011. Since then, SsangYong has seen a steady improvement in sales and launched several new models. In 2016, its sales touched a record 155,000 it units we which helped it turn in a profit of 28 billion Korean won—its first after nine years of continuous losses.

SsangYong is co-developing an all-electric SUV with Mahindra, which it plans to start selling by 2020, said Choi. “We are now diligently cooperating with Mahindra to develop the new generation of electric vehicles.