Aiming to be the market leader in the compact sports utility vehicle (SUV) segment, Mahindra & Mahindra launched its XUV 3XO at a disruptive price point starting at ₹7.49 lakhs.
The SUV which is available in five variants will be priced between ₹7.49 lakhs and ₹15.49 lakhs. Bookings for the XUV 3XO will open from May 15 and deliveries will begin from May 26.
The XUV 3XO project cost is ₹650 crore. M&M Ltd. is also expecting to grow in the mid to high teens in the SUV segment in FY25.
“In the Compact SUV monocoque segment, we are number 5, it is a relevant segment for us and we aim to be number 1 or number 2 in the next three years. In FY25, the SUV segment will see faster growth. At this point we are not expecting to do smaller cars,” said Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector) at M&M Ltd. while interacting with the media.
Revamped model
The company can produce 9,000 XUV 3XO and can ramp it up to 10,500 cars per month with additional investment.
The XUV 3XO has Level 2 ADAS (1R1V) with features ensuring enhanced driving assistance and safety measures. The company stated that it is the largest buyer of technology which has helped the XUV 3XO to be equipped with the latest tech.
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“Built on a durable, well-tested platform, it is engineered to meet the highest global safety standards, including the B-NCAP. The XUV 3XO also meets the benchmarks established by our XUV700 offering best-in-class forward visibility,” said R Velusamy, President of Automotive Technology and Product Development, M&M Ltd.