M&M, SsangYong Motor may team up for electric vehicles

Mahindra & Mahindra may team up with SsangYong Motor in an attempt to bolster its electric vehicles' business as rising fuel prices have triggered demand for eco-friendly products. India's largest utility vehicle maker plans to collaborate with SsangYong Motor to produce the latter's electric variant of the crossover model, Korando, signalling the first step towards a synergistic approach. 

SsangYong displayed the electric variant of Korando at the recently-concluded Geneva Motors Show. M&M, which took management control of SsangYong Motor last month, looks to launch the Korando C and the Rexton for the Indian market in early 2012. 

Mumbai-based conglomerate will enhance synergies with South Korean company after Mahindra Reva launches 4-seater NXR in the Indian market shortly. The collaboration is mainly to create products which complement the portfolio of Mahindra Reva - the electric vehicle joint venture between M&M and Reva Electric Company. 

Mahindra Reva's new manufacturing facility in Bangalore will enhance capacity to 30,000 by 2013-14 from 15,000 units this year. The plant has a maximum capacity to produce 1,500 cars a year and the company is producing 100 cars a month.crackcrack