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• Mahindra &Mahindra plans to bring Ssangyong vehicles to India after deal

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  Palini Somji    Group moderator

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  Mahindra &Mahindra plans to bring Ssangyong vehicles to India after deal

  Utility vehicles maker Mahindra & Mahindra (M&M) plans to bring Ssangyong vehicles to India after completing acquisition of the South Korean automaker, a top company executive said on Wednesday. M&M will retain Ssangyong as a separate unit but is looking at the new compact SUV, Korando platform that will be launched in the market later this year. The company expects to complete the acquisition within the next four months.
  
  Pawan Goenka, president and CEO, M&M (automotive sector) said, “We would look at products to complement our existing range in India.” Ssangyong products are priced upwards of `12 lakh, a level where M&M’s flagship Scorpio SUV price band ends, making way for a perfect product synergy in the Indian market, he said.
  
  Ssangyong also has other SUV’s like Kyron and Actyon in its portfolio and also makes a premium sedan under Chairman marquee. M&M which signed a memorandum of understanding to buy a majority stake in Ssangyong hopes to leverage the asset to emerge as a strong player in the global SUV space.
  
  M&M is also looking to enhance presence in the tractor segment and plans to set up a greenfield plant in Southern India with a total capacity of 1 lakh unit per annum. The plant is likely to come up in Tamil Nadu.
  
  Source : 26 AUG, 2010, Economic Times Bureau
  
  • 26 Aug 2010, 09:25 am
  Palini Somji wrote: > Utility vehicles maker Mahindra & Mahindra (M&M) plans to bring > Ssangyong vehicles to India after completing acquisition of the South > Korean automaker, a top company executive said on Wednesday. M&M will > retain Ssangyong as a separate unit but is looking at the new compact > SUV, Korando platform that will be launched in the market later this > year. The company expects to complete the acquisition within the next > four months. > > Pawan Goenka, president and CEO, M&M (automotive sector) said, “We > would look at products to complement our existing range in India.” > Ssangyong products are priced upwards of `12 lakh, a level where > M&M’s flagship Scorpio SUV price band ends, making way for a perfect > product synergy in the Indian market, he said. > > Ssangyong also has other SUV’s like Kyron and Actyon in its portfolio > and also makes a premium sedan under Chairman marquee. M&M which > signed a memorandum of understanding to buy a majority stake in > Ssangyong hopes to leverage the asset to emerge as a strong player in > the global SUV space. > > M&M is also looking to enhance presence in the tractor segment and > plans to set up a greenfield plant in Southern India with a total > capacity of 1 lakh unit per annum. The plant is likely to come up in > Tamil Nadu. > > Source : 26 AUG, 2010, Economic Times Bureau