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Mahindra, SsangYong to Co-Develop EV Platform
India’s Mahindra & Mahindra Ltd. and its South Korean SsangYong Motor Co. affiliate say they are jointly developing a platform to carry electric SUVs that will be marketed by both brands in 2020.
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India’s Mahindra & Mahindra Ltd. and its South Korean SsangYong Motor Co. affiliate say they are jointly developing a platform to carry electric SUVs that will be marketed by both brands in 2020.
Mahindra already makes small electric cars in India, but neither company currently offers an electrified SUV.
The partners are finalizing the electric SUV chassis design now, SsangYong CEO Choi Johng-sik tells reporters in Mumbai. He concedes that EVs are a difficult sell in Korea, which lacks both a battery charging network and significant government subsidies for electric vehicles.
Separately, Choi says SsangYong hopes to finalize a decision by mid-year about whether to launch production of conventional vehicles in China. The company also hopes to reenter the Russian market after suspending exports to the country two years ago because of the prolonged market slump there.
SsangYong has said it aims to hike annual sales to 240,000 units by 2019 from a 14-year high of 155,800 units in 2016.
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