 "M&M set to launch more petrol cars, compact SUV next year")
Mahindra & Mahindra will increaseits range of petrol engine-powered vehicles, starting with acompact sports utility vehicle (SUV) to be launched next year.
“We are developing a 1.2-litre petrol engine, which willpower the compact SUV that we will launch next year. Also, wehave a 1.6-litre petrol engine available from our Korean armSsangyong,” Mahindra & Mahindra (M&M) Executive Director PawanGoenka told PTI.
He further said: “We can also develop a 1-litre petrolengine in quick time based on the existing platform.”
The plan to have more petrol vehicles is to offset anypossible decline in demand for diesel vehicles due to thereducing price difference between petrol and diesel fuels.Goenka said the company will manufacture two out of thethree new platforms, which it has announced, at the Chakanplant.
Last month M&M had announced plans to invest Rs 4,000crore at the Chakan plant to take the overall capacity to 7.5lakh units annually when fully operational. The fresh infusionwould take its total investment in Chakan to Rs 8,000 crore.In 2013, the company had announced plans to invest Rs10,000 crore in three years.
When asked if the Chakan plant could be used to assemblemodels of the company’s South Korean arm Ssangyong, he said atthe moment there were no such plans.
“We don’t have immediate plans to assemble any Ssangyongmodels in India. However, considering the capacity that theChakan plant would have when fully operational, we can producea wide array of vehicles there.”
On whether the company would bring the X100 compact SUVthat Ssangyong planned to lunch next year, Goenka said: “Wedon’t have any such plans now. Unless we assemble that inIndia it will not be cost competitive.“Goenka said the company has initiated a feasibility studyfor a possible entry of Ssangyong in the US but it would take
years before being finalised.
“We don’t have any timeline for that study. Even afterthat, it would take 2-3 years after the Board approves anyplan, if at all, for such a move. So, it is just far away,” headded.
M&M’s earlier plan to launch Scorpio pick-up truck inthe US hasn’t fructified due to legal issues with itsdistributor and dealers following delays in launch.Commenting on the market conditions, Goenka said theindustry has seen a turnaround with sales picking up in thelast four months.
PTI
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