M&M plans to launch the XUV500 in Korea and Russia

23/02/2012 - 05:48 | ,   | Kaustubh Shinde

Mahindra XUV500As Mahindra&Mahindra is planning to launch Ssangyong’s products Rexton and Korando in India, the automaker is also considering to enter the Korean market with the help of Ssangyong. The SUV leader of the Indian market is planning to assemble their most popular product - XUV500 - in the Korean market.

While Ssangyong products would be retailed under the Korean brand in India, the company is yet to decide on branding Mahindra products in Korea. However M&M is in advanced stages of leveraging Ssangyong’s (SMC) research and development capabilities. Both companies plan to develop an all new platform in each of their domestic markets. Both platforms is expected to be ready not before 2015.

In the meantime, M&M is burning the midnight oil to launch Ssangongproducts in India. It has invested close to Rs 100 crore for setting up a body shop to produce the Rexton at its plant in Chakan, Maharashtra. The Rexton is expected to launch towards the end of this year followed by the Korando in 2013.

M&M is also keen on entering the Russian markets by leveraging SMC’s distribution channel and is in advanced talks with Sangyong’s distributor – Solaris in Russia to assemble Mahindra products. If the deal materializes, M&M would be initiating a CKD operation in the coming two years.

The XUV500 will also enter European markets by 2013 to challenge the Dacia Duster. Seems like Mahindra’s Global SUV is going global sooner than expected.

[Source: business-standard.com]

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