M038;M spend on SsangYong car at Rs 800 cr

Besides,the homegrown auto major also announced that it will enter into the heavy bus segment,to be developed on Mahindra Navistar platforms,in the next one year.

8220;We are developing an all new platform with SsangYong. It will be for two different products,but with same platform and engine8230; It will take 3-4 years to develop,8221; Mahindra amp; Mahindra President Automotive and Farm Sector Pawan Goenka told reporters here.

He,however,declined to share details such as whether the final products will be a car or a utility vehicle. When asked about the investment on this project,Goenka said,

8220;When we develop a platform for one product,it takes Rs 600-800 crore. As this new platform will be for two products,it will require more than that amount.8221;

While unveiling the SUV Rexton,he said the vehicle will be launched in India within next six months as a completely-knocked down CKD unit.

8220;We are currently setting up the assembly line for the vehicle at our Chakan facility. This will be SsangYong8217;s second CKD operations outside Korea,8221; he said.

He added that the company is looking at selling 500-600 units of Rexton per month once the capacity is fully utilised. The company will launch another SUV from SsangYong8217;s portfolio 8212; Korando C 8212; next year in India,he said. On sales network for SsangYong vehicles in India,Goenka said it will be distributed through existing Mamp;M outlets.

8220;However,we have not decided yet about the badging of the vehicles,8221; he added. Besides India,SsangYong has CKD operations in Russia for one model.

8220;We are looking to increase the local production from Russia. By next year,we will add more models to our CKD line-ups there,8221; Goenka said.

SsangYong Motor will also start CKD operations in Brazil in the next two years,followed by China at a later stage,he added.

Talking about the heavy-vehicle making joint venture Mahindra Navistar,Goenka said,8221;We are looking at entering the large buses segment in one year from now. We are already present in the light buses segment.8221; He,however,did not share details such as whether it will be developing fully-built coaches or only chasis. The company currently has 48 dealers for Mahindra Navistar vehicles and will ramp up the same to 100 in the next one year.

On production capacity of its SUV XUV5OO,Goenka said it has been hiked to 3,000 units a month in January.

8220;We will consider to increase it further to 4,000-4,500 units a month by the end of this month,8221; he added.