Mahindra & Mahindra Limited, a part of the $12.5-billion Mahindra Group, launched Gio, a four-wheeler compact cab, in the Hyderabad market on Monday. Developed to cater to the intra-city stage and contract carriage travel in India, Gio comes with a Rs 1.95 lakh price point (ex-showroom, Hyderabad).
“Gio compact cab offers consumers more trips resulting in 27 per cent higher results than three-wheelers. We are targeting the 17,000-unit per month three-wheeler market with Gio,” Vijay Nakra, vice-president (sales), Mahindra & Mahindra, told mediapersons here.
Nakra said the Gio compact cab was developed for specific use in areas of school children movement segment within Tier-II and Tier-III towns in India. In addition, other segments, which will find this vehicle extremely useful include large campuses, resorts and factories that have transportation requirements within their own premises, he said.
“We currently have a capacity to manufacture 24,000 units of Gio compact cab, which could be scaled up to close to 40,000 units once the demand picks up and the vehicle is rolled out pan-India by the end of this year,” Nakra said. Replying to a query on when the company would launch the diesel variant of the Gio compact cab, he said: “Not immediately but in near future.”