Mahindra and Mahindra (M&M),one of India’s largest utility vehicle maker has announced that the company is in the final stage of joint production with South Koreas SsangYong Motor Co ;a company which it took over in 2010.
M&M has acquired a 70% stake worth of USD 378 million in SsangYong, South Koreas 3rd largest soprts utility vehicle maker.
M&M President (Automotive Sector), Mr Pawan Goenka was quoted saying: “We are investing in product and brand development in SsangYong Motor Co. Both the teams of M&M and SsangYong Motor Co are working together to develop new product platforms over the next 3-4 years”.
The move is intended to fortify Mahindras presence in the rising sport utility vehicle sector and also towards globalising its products by entering the South Korean market. Mahindra will launch the SsangYong Korando and Rexton SUVs in India.
So what can we expect from the JV?
We feel the next gen Scorpio and engines would be one of the major development.