M&M to develop new product platform with Ssangyong

Mahindra and Mahindra is one of the largest and strongest utility vehicle manufacturers in India. M&M has a major share in the Ssangyong Motor Co, which is a Korean automobile firm. Both M&M and Ssangyong Motor Co reportedly have plans to create brand new product platforms together in next few years.

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Mahindra and Mahindra has obtained 70% of the share in Ssangyong Motor Co in the year if 2010. As per the president of Mahindra and Mahindra, Mr. Pawan Goenka, both the firms are currently in the middle of the procedure of concluding the entire product plan. The product development teams of both the companies are putting in efforts to develop the platforms.

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Another thing that was mentioned was that Mahindra and Mahindra is expecting Ssangyong to sell about 1.20 Lakh of units in 2011, which will in turn boost up growth in the markets such as South America and Russia. According to the statistics, in the 1st six months of 2011, the firm has managed to sell 55,000 units, which is pretty decent.

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The company also mentioned that the firm is eyeing on the world’s largest and biggest auto market, China and reports suggest that Ssangyong Motor Co is in the investment mode. It is also being said that Mahindra and Mahindra is planning to launch four to five products by the end of this year, which will comprise of an electric vehicle Reva NXR, one global SUV and finally a 4 meter variant of Mahindra Verito. Apart from these, apparently, Mahindra and Mahindra will soon launch a SUV from Ssangyong Motor Company.

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