Mahindra and Mahindra expects to set a global footprint

After the expected acquisition of Ssangyong Motor Company, Mahindra and Mahindra is in the high spirits of establishing itself as a global player in world SUV segment. M&M has already strengthened its leadership position in the Indian sports utility vehicle (SUV) segment. It is also a noteworthy point that M&M is making its bid in the same month in which company’s Bolero, the highly-successful SUV model, was launched a decade ago. Mahindra’s Bolero was launched in August 2000.

Anand Mahindra, Vice-Chairman and Managing Director, M&M, stated that the acquisition of Ssangyong Motor will provide M&M a tremendous opportunity for accelerating its progress towards its stated intention of becoming a globally-recognised player in the specific niche of utility vehicles. TheSouth Korean SUV-maker Ssangyong Motor Company (SYMC) has selected M&M as the preferred bidder for acquisition. SYMC is itself quite strong in the SUV segment and has got models like Rexton, Kyron and Actyon and sedan Chairman.

Mahindra further added that this acquisition of Ssangyong will provide even more confidence to M&M as the company bids to acquire a global footprint in the SUV segment. At present, Mahindra & Mahindra is selling about 7,000 Boleros every month. Pravin Shah, M&M's Chief Executive, International Operations (Automotive and Farm Equipment Sectors), said that Mahindra Bolero continues to create new records and scale greater heights as India's number one SUV. The SUV which is considered to be a great product has a waiting period of two to three weeks.

Pawan Goenka, M&M President (Automotive and Farm Equipment) said that M&M is the right partner for the South Korean company and it is possible to develop more products in the South Korean assembly lines in the future.

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