Mahindra to launch new variants of its popular vehicles

India's largest Utility vehicle (UV) maker Mahindra & Mahindra is developing an all new India bound passenger car at the platform of its Maxximo model. The new car will be launched in the Indian market within a period of next 12 months, as stated by a senior company official on Thursday. According to a statement given by Mr Rajesh Jejurikar, Chief Executive (Automotive Division) at M&M, to the reporters, the company at its Chakan plant near Pune has already invested close to Rs 300 crore and with these investments, the company would introduce a passenger vehicle variant under Maxximo platform.

The company is also planning a marginal investment for the launch of new variants of its existing popular and highly demanded vehicles in the Indian market. However, the company hasn't revealed the name of the vehicle which it is planning to launch as a new variant in the Indian market. Where the first new variant will be introduced in next one year's period, the second variant will be rolled out by the starting of the year 2012.

Moreover, to catch-up with the rising demand for its vehicles in the Indian market, the company is eying on ramping-up its production in its domestic market. The company is planning to increase its production capacity in the country to 3,000 units per month from existing capacity of 2,000 units per month. It currently sells some of the most popular SUV's in the Indian market including Mahindra Scorpio, Mahindra Xylo and Mahindra Bolero.

Meanwhile, the company has reached the final stage of the acquisition of the SSangyong Motors and is expected to acquire this bankrupted South Korean firm by the end of this year.

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