M&M Launches Rexton at 17.67 Lakh

New Delhi: The growing SUV market in India sees another product entering the arena.Mahindra & Mahindra is coming out with its latest addition to the segment.Auto major Mahindra & Mahindra said it has launched a premium SUV 'Rexton' from the SsangYong stable. The first launch from its Korean arm is produced at the Chakan plant with some localisation, the company said. In November 2010, Mahindra & Mahindra (M&M) had signed a definitive agreement with Ssangyong Motor Company to acquire 70 percent stake in the ailing South Korean automaker at a total cost of $463 million (about 2,105 crore). "A manual model of the sports utility vehicle (SUV) is priced at 17.67 lakh ex-Mumbai and the automatic version at 19.67 lakh," M&M president, automotive and farm equipment, Pawan Goenka said at the launch. The car is the first high-end SUV from the Mumbai-based auto firm. The company said it has invested over 63 crore at its Chakan plant for this model.