M038;M,SsangYong jointly developing three engines for global mkt

Both companies are developing the engines keeping in mind India,South Korea and other markets around the world,he added.

It will take us 24-36 months to develop these engines, Shah said.

He,however,declined to share details such as capacities of the engines or whether these will be fitted in small cars,sedans or sports utility vehicles.

Mamp;M and SsangYong are working on to synergies strength of both the firms. Apart from product development,we are also working on joint global sourcing and utilising global network for products, Shah said.

Talking about the investments,Shah said Mamp;M will put in Rs 4,000 crore in the next three years,while SsangYong will make an investment of Rs 1,500 crore.

SsangYong Motor today launched SUV Rexton in Delhi,priced between Rs 17.75 lakh and Rs 19.75 lakh ex-showroom.

When asked if separate showrooms would be considered in India for products of the Korean firm to establish the brand,SsangYong Motor Company Executive Vice President Sales and Marketing HQ Johng-Sik Choi said: It may help in having separate showrooms for the brand.

However,we are selling Rexton in Mamp;M outlets as a pilot project. After one year,we will review the sales performance and then we will take a decision accordingly. At present,there is no plan to open separate outlets.

The Rexton is being produced at Mamp;M8217;s Chakan plant in Maharashtra. The third generation Rexton is available in over 70 markets across the world.

The company has planned to produce initially 5,000 units a year.