Mahindra & Mahindra Ltd.

A first of-its kind vehicle in India — and perhaps the world — utility vehicle major Mahindra & Mahindra (M&M) is developing with Ssangyong, the South Korean SUV maker it acquired last year. Codenamed the S101, the ‘Nano’ SUV — as it is being dubbed by some workers on M&M’s shop floors — will be powered by 1- 1.2 litre petrol engines and 1.5-litre diesel engines. Work on the project began a year ago and the vehicles are expected to roll out of M&M’s plant in Chakan on the outskirts of Pune — where the newly launched XUV500 is being produced — in 26-28 months. Estimated price range is between Rs 3 lakh and Rs 4 lakh. The price tag is noteworthy because most mini-SUVs — typically under 4 metres in length — are premium products. The Jeep Wrangler, Nissan Juke and Skoda Yeti are some of the best-selling mini and compact SUVs globally, yet their pricing is clearly premium — the Yeti, for instance, sells in India at over Rs 14 lakh.