Mahindra & Mahindra (M&M) would set up an assembly line at its Chakan plant for making Ssangyong sport utility vehicles (SUVs), said Pawan Goenka, president (automotive and farm equipment sector) of the Mumbai-based utility vehicle maker.
M&M is in the final stages of acquiring troubled South Korean automaker Ssangyong Motor Company (SYMC). The company expects to seal the deal with Ssangyong before November-end, after it completes the detailed due diligence process, expected to get over by next month.
The company is charting a road map for launching SYMC’s vehicles here. The company is considering two products from the Ssangyong portfolio, Korando C and Rexton, to launch in India. While Korando C is a compact SUV, Rexton is a large-sized premium SUV. Mahindra will sell these products under the Ssangyong brand in India.
M&M’s Chakan plant can produce 300,000 units a year and will see an investment of Rs 5,000 crore over a period of time. The plant can manufacture all M&M products, ranging from a 0.5-tonne cargo vehicle to 49-tonne Mahindra Navistar heavy truck and sport utility vehicles.