Mahindra to collaborate with Ssangyong to produce EVs

Mahindra and Mahindra (M&M), based in Mumbai, announced that it is in discussion with South Korea’s SsangYong Motor to manufacture electric vehicles (Evs) in response to the demand for more eco-friendly and cost-efficient vehicles. M&M is India’s largest utility vehicle maker. SsangYong recently introduced its electric vehicle Korando at the Geneva Motor Show. M&M took over the management control of SsangYong Motor in 2011 and has indicated that they will launch a Korando C and the Rexton for the Indian market in the first quarter of 2012. Pawan Goenka, president of the Automotive and Farm Equipment Sector for M&M, said Mahindra is gearing up to launch a 4-seater NXR soon and will widen its electric vehicle portfolio but declined to comment on the collaboration with Ssangyong. The collaboration is expected to assist M&M in creating new electric vehicles which will complement the current product line of Mahindra Reva. Mahindra Reva will be launching a four seater NXR in the Indian market in the near future. M&M bought a 55.2% stake in Reva Electric Car Company based in Bangalore, India, in 2010. (March 9, 2011)