Mahindra launches 'Marazzo' at Rs 9.99 lakh

Home-grown auto major Mahindra & Mahindra (M&M) today launched its new utility passenger vehicle Marazzo at a starting price of Rs 9.99 lakh, which will compete with segment leader Toyota Innova Crysta.

The vehicle has been developed from engineering collaboration between Mahindra Automotive North America (MANA), Detroit and Mahindra Research Valley (MRV) Chennai, and designed by Pininfarina, Italy and Mahindra Design Studio in Mumbai, according to M&M executive chairman Anand Mahindra.

"We have launched globally developed Marazzo for the Indian market," Mahindra told reporters here.

The company has spent around USD 200 million to develop this product, he said, adding it hopes to launch more luxury vehicles in collaboration with MANA, MRV and Pininfarina in the future.

The new vehicle will be manufactured at the company's Nashik facility, and besides Innova Crysta, will also be competing with other brands in the segment such as forthcoming second-gen Maruti Ertiga and Ranault Lodgy.

Replying to a query on the rising competition, Mahindra said, "We are not focused on market share but making sure our products are a hit."