Priced between Rs 10.8 lakh and Rs 11.95 lakh, M&M launches SUV XUV 500

Priced between Rs 10.8 lakh and Rs 11.95lakh (ex-showroom, Delhi),auto major Mahindra & Mahindra on Thursday launched its global sportsutility vehicle, XUV500.

The vehicle, which was designed anddeveloped by the company's Chennai-based research team, will be launched in South Africa onFriday.

"In the next six months, it will belaunched in Australia, Southand Central America, Western Europe and SAARCcountries," M&M President (Automotive and Farm Equipment) Pawan Goenkasaid.

In the domestic market, it will be firstavailable in Delhi, Mumbai, Bangalore, Chennai and Pune. It will bepitched against the likes of General Motors' Captiva and the Toyota Fortuner,which are priced at around Rs 19-20 lakh.

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M&M Chief of Operations (AutomotiveSector) Rajesh Jejurikar said the price of the XUV500 could be revised afterthree months, depending on commodity prices and other input costs.

Stating that the new vehicle is areflection of the firm's ever-growing global aspirations, M&M Vice-ChairmanAnand Mahindra said: "XUV500 is much more than a car. It will be anothercult vehicle, as Scorpio was."

Goenka said the XUV500, on which M&Mspent Rs 650 crore to develop, is the first product from its Chennai researchand development centre. It will be produced at the Chakan plant.

He said the new vehicle would"redefine M&M as the Scorpio did nine years back".

While the company did not specify salestargets for the new vehicle, officials said M&M has made arrangements foran initial production capacity of 2,000 units a month.

Powered by a 2.2-litre diesel engine, theXUV500 has a six-speed transmission and is also available in a four-wheel drivevariant.