M&M, Ssangyong Join Hands For Electric Vehicles

By By: Vicky.in

Published: Wednesday, March 9, 2011, 14:06 [IST]

The Indian auto giant M&M and the Korean auto major Ssangyong are pitted for joining hands in the electric version vehicles. The move comes in the wake of the unstinted rise in the fuel costs and t he models identified are Kornado crossover. The model was at the recent Geneva Motor Show where Ssangyong displayed this version. M&M, however, has got its own plans after its acquisition of the Korean car company. It is understood to come out with Kornado C and Rexton in the Indian market next year, possibly after the launch of Reva NXR 4 seater.

M&M joins hand with Ssangyong to juxtapose the models coming under Reva Electric in the Indian car market. In another move, the capacity in the Bangalore plant will see the volume of 30000 during 2013-14 which is currently 15000 annual units. It is to be mentioned that the plant"s capacity is 1500 cars annually at 100 units a month. The target customers, according to M&M, are the existing owners of cars who may feel difficult on the increasing fuel prices. Naturally the car owners are looking for alternative fuels to save money.

The CEO of Mahindra-Reva said the company was facing acute hassle by way of high pricing and lack of infrastructures. But a sigh of relief came through the government"s gesture of 20% subsidy for electric vehicles.

Article Published On: Wednesday, March 9, 2011, 12:43 [IST]

More from DriveSpark