BS reported that homegrown auto company Mahindra & Mahindra is looking at introducing the first product it is developing in association with Korean arm SsangYong Motor Company in two to three years.

M&M, which bought a 70.03% stake in SMC in November 2011, is developing two new platforms in collaboration with the Korean utility vehicle maker. Valued at INR 2,100 crore, the acquisition was the largest outbound deal in the domestic automotive industry.

Mr Rajan Wadhera chief executive (technology, product development and sourcing) of M&M said that “We are developing two platforms in collaboration with SsangYong one in India and another in Korea.”

Mr Wadhera said that based on these platforms, the products would largely be in the sport utility vehicle space. The first product is likely to be launched in two and a half years.

Mr Wadhera further said that “We want to synergise our operations with that of SsangYong in sourcing, manufacturing and distributing products to better profitability from resulting economies of scale.”

SMC has a 1,300 dealer network in 98 countries.

(Sourced from BS)