Companies

With XUV300, Mahindra bets big on compact SUV segment

Varun Aggarwal Mumbai | Updated on December 19, 2018

Mahindra & Mahindra MD Pawan Goenka at a press conference in Mumbai on Wednesday to unveil the company’s new compact SUV model XUV 300, to be launched in February   -  PAUL NORONHA

Mahindra & Mahindra is all set to enter the high-growth compact SUV segment with its upcoming XUV 300, previously codenamed S201.

The XUV300 shares its platform with the SsangYong Tivoli, which is a globally successful product that has sold over 260,000 vehicles in more than countries since its launch in 2015.

Safety features

The Tivoli has also received multiple safety and ergonomic awards including a Grade 1 (highest) safety award from the 2015 KNCAP (Korean New Car Assessment Program) automotive safety test.

“The non-compact SUV segment has been stagnant for the past five years. Whereas the compact SUV segment has grown from a mere 50,000 units a year to 4.4 lakh units. Our entry into the segment will fill this gap in our portfolio,” said Pawan Goenka, Managing Director of M&M.

The company expects to sell about 8,000 units of XUV 300 a month, capturing 20 per cent of the market as the new vehicle launches in mid-February, he added.

The XUV 300 will be available in petrol and diesel variants with a monocoque body and seven airbags, the first in the segment. It carries forward the design characteristics of the XUV 500.

Tivoli is one of the best selling compact cars in the South Korean market. While the XUV 300 is a slightly smaller version of the Tivoli, the company expects its new safety features will help boost sales in India.

South African launch

“We will also be launching the car simultaneously in South Africa, one of the fastest growing markets for us,” Goenka said.

M&M is also working on an electric powertrain for the XUV 300, which will be ready by 2020.

Electric vehicle

According to Goenka, the electric XUV 300, codenamed S210, will come with higher power batteries that will allow more range for the vehicle compared to the current generation EVs in India.

“There will be two versions of the S210 — one with higher KWhr and the other with a smaller battery, being more of a mass market product,” he said.

The XUV 300 will compete with the Ford Ecosport, Renault Duster and Maruti Suzuki Vitara Brezza. It will be manufactured at the company’s facility in Nasik and launched in the first half of February.

Published on December 19, 2018

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