Auto major Mahindra&Mahindra today said it has launched a premium SUV 'Rexton' from the SsangYong stable.
The first launch from its Korean arm is produced at the Chakan plant with some localisation, the company said.
In November 2010, Mahindra & Mahindra (M&M) had signed a definitive agreement with Ssangyong Motor Company to acquire 70% stake in the ailing South Korean automaker at a total cost of $463 million (about Rs 2,105 crore).
"A manual model of the sports utility vehicle (SUV) is priced at Rs 17.67 lakh ex-Mumbai and the automatic version at Rs 19.67 lakh," M&M president, 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 said it has invested over Rs 63 crore at its Chakan plant for this model.