Mahindra and Mahindra, the Mumbai-based automaker in India has launched their first premium SUV from the Korean maker Ssang Yong from which they had purchased a 70% stake in 2010. The Mahindra Rexton SUV was launched today in Mumbai.

The SUV is produced at the Chakan plant along with some localization of the Korean machine that is based on the Mercedes M-class engines and transmission.

Earlier in 2010, the Indian firm had signed a definitive agreement with Ssangyong Motor Company acquiring 70 per cent stake in Rexton, the South Korean automaker at a total cost of USD 463 million (about Rs 2,105 crore).

The car is now available in India in Manual and Automatic transmission models, at Rs 17.67 lakhs and Rs 19.67 lakhs (ex-showroom Mumbai), the 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 also said that an investment of over Rs 63 crore had been made at the Chakan plant solely to develop this model.

(AW- Anil)