Mahindra & Mahindra, a part of the $15.4-billion Mahindra Group, has launched the SsangYong Rexton in India. It is Mahindra & Mahindra’s (M&M) first high-end sports utility vehicle.
Designed and developed by SsangYong in Korea, the sports utility vehicle (SUV) is the third generation Rexton.
The SUV is priced at Rs 17.67 lakh (ex-showroom Mumbai) for manual transmission (RX5 version) and Rs 19.67 lakh for automatic transmission (RX7).
The Rexton is manufactured and assembled at Mahindra’s Chakan plant near Pune by sourcing components from SsangYong Korea and from India.
"For the Mahindra Group, the SsangYong Rexton represents our philosophy of ‘Rise’ in action as well as in thought, as it is an embodiment of a high-end SUV offering for the discerning Indian consumer. It bears testimony, not only to the world-class technologies that are now available across the group, but also to the completion of a dream at Mahindra to straddle the entire product spectrum in the SUV segment with a diverse portfolio of offerings at distinctive price points and value,” Pawan Goenka, President, Automotive & Farm Equipment Sectors, said.
In November 2010, M&M had signed an with Ssangyong Motor Company to acquire a 70 per cent stake in the ailing South Korean automaker for $463 million.
M&M said it has invested over Rs 63 crore at its Chakan plant for this model.