M&M may tie up with SsangYong Motor for electric vehicles

The Indian auto major, Mahindra & Mahindra is heard to join hands with SsangYong Motor with a view to produce electric vehicles which are gaining high demand in market owing to the high fuel prices.

Mahindra & Mahindra is India’s biggest utility vehicle manufacturer and now in order to nourish its electric vehicle segment, the company is looking forward at forming partnership with SsangYong Motor. The collaboration is to take a first step towards a synergistic approach by working on the crossover, Korando. The news has been revealed by industry sources.

The crossover, Korando EV was first displayed by SsangYong at Geneva Show this year which is recently concluded. The Indian major, M&M took over the management of SsangYong Motor in February 2011. And now the company is looking forward to launch Korando C and Rexton in the Indian auto market by year 2012.

Mahindra & Mahindra the company based in Mumbai, will soon come up with new works with this South Korean company once the upcoming Mahindra Reva NXR is launched. The model is most expected model in the Indian auto market which is claimed to bring a revolution in the Electric Vehicle segment.

With this collaboration, the Indian major is intending to come up with cars which can be placed in the Electric Vehicle portfolio of the company. addressing the issue, Pawan Goenka who is the President (automotive & farm equipment sector) in  Mahindra & Mahindra commented that the company is soon to launch its high aspirated model, Mahindra Reva NXR but he further denied to make any statement on the collaboration of the company with this South Korean Company. With the launch of Mahindra Reva, the company will be able to improve its Electric Vehicle portfolio in Indian auto market which will also give the company a fiorst mover advantage.

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