Mahindra & Mahindra Ltd.

In a bid to develop a new vehicle platform with its Korean subsidiary Ssangyong Motor, Mahindra and Mahindra (M&M) will invest Rs 1,500 crore in coming three years. The company will be launching sports utility vehicle -Rexton- in India before Diwali which would represent the first product under the Ssangyong label in the Indian car market.

At present, M&M and Ssangyong are developing a new engine platform both for petrol and diesel that will be used by both the companies.