M & M Plans To Enter Small Car Segment

The company Mahindra and Mahindra is thinking to enter into one of the popular segments of India, that is, the small car segment of India. The company has taken its stake in Reva Electric Company to introduce a car. This will be an eco-friendly car. There are plans that the company is willing to invest over Rs. 1000 crore in this segment.

The company is planning to bring its small car very soon. It aims at introducing the small car by the year 2013-14 . It has been said that the car will be priced in a bandwidth of Rs. 2-5 lakh. The company is also working upon the building of a new platform and it is also deciding on the new cars which are codenamed as S101, S102, S103 and S104.

The small car, which the company MM is planning for, will be designed by Stile bertone. This is an Italian car design studio which had designed Xylo initially. The company will have to compete with Tata Motors as Tata Motors is already performing very well in the Indian market. It has also got plans to soon unveil the mini-SUV or smaller Xylo model for the Indian market.