BW Communities

M&M's Korean Connection

BW Online Bureau Nov 08, 2014

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[There is also a possibility that the company can manufature cars for the Chinese market with a local partner in that country. When the Mahindra's picked up  a 70 per cent stake in SsangYong Motor for 522.5 billion Korean won, it was only a matter of time that they would use the Korean company's platforms in India. The company showcased and announced that that SsangYong's sport-utility vehicle Rexton will be available in the market in the second half of 2012 and the Korando C SUV will be in by 2013. "These SUVs will be CKDs," says Pawan Goenka, President Automotive Sector in M&M. He also said that they were working on 2 platforms from the SsangYong stable, he said that the average investment for a platform would be more than Rs 700 crore and that the Mahindras would plan something more than that in a couple of years. These Korean SUVs will also be sold as CKDs in Brazil and Russia. There is also a possibility that the company can manufature cars for the Chinese market with a local partner in that country. The Mahindras are the largest SUV maker in the country with a 65 percent market share in the 300,000 market.