Thursday, May 08, 2014
By Manoj Kumawat
M&M and Ssangyong to develop six new engines under their collaboration
Increasing operational synergy between Mahindra and Mahindra and its arm SsangYong, the group will jointly develop six new engines for use in future products of both companies. "There will be joint research and development for six engines between Mahindra and SsangYong," Mahindra Chief Sales Officer (automotive) Arun Malhotra said here today at the launch of Rexton RX6 SUV model in city. He, however, did not divulge details like whether the new engines would be diesel or petrol ones, would be produced in India or Korea or at what segments.
Malhotra indicated that as the company enjoys 40-45 per cent marketshare in SUV market the focus will be on this segment. "Rexton (HSUV) will be more of a image mover than volume driver for the company," he said. Malhotra said Mahindra was exploring at compact SUV category product but declined to divulge further details.
Asked about his outlook on the automotive market for the year, he said it was optimistic taking a cue from growth in tractor and two-wheelers in the last fiscal. South Korean SsangYong is part of M&M since 2010 and it has shown 20.7 per cent increase in sales in 2013 and has grown 14.7 per cent in the four months this year, company sources said.
Source: Economic Times.