Mahindra & Mahindra (M&M), the Indian sports utility vehicle manufacturer is planning to develop platforms for each segment in the utility vehicles market. These include the compact SUV segment, the SUV segment and the multi-seater utility vehicles.
The Indian carmaker plans to invest around Rs 5,000 crore with the aim of developing three-four new platforms and new engines for these utility vehicle segments and new car products. The process of new product and platform development will be carried out in collaboration with its South Korean subsidiary SsangYong Motor Company.
According to Mr. Rajan Wadhera Chief Executive (Technology, Product Development and Sourcing, Automotive and Farm Equipment Sectors) at M&M, the carmaker plans to cover the entire SUV segment by creating new platforms. He added that the company is also developing a compact SUV independently to compete with Ford’s EcoSport and Duster by Renault.
Utility vehicles currently account for 94 percent of the Indian SUV maker’s monthly volumes.