"Maxximo Minivan is priced at Rs. 3.2 lakh (ex-showroom, Navi Mumbai) and will be developed at the company's state-of-the-art Chakan plant in Maharashtra," said M&M Automotive & Farm Equipment Sectors President Pawan Goenka. Maxximo Minivan will compete with Tata Magic and Maruti Omni in the minivan segments.
Targeted at semi urban and rural areas, the vehicle will be available via 230 dealers and 600 outlets across the country, Goenka said.
The company has spent Rs. 130 crore (Rs. 1.3 billion) to develop Maxximo platform and Rs. 70 crore (Rs. 700 million) will go into the setting up of manufacturing line.
The production capacity at Chakan unit is 2,000 vehicles per month, which can be ramped up, Goenka said.
The Maxximo Minivan has a wide body for more space. It has a monocoque chassis with independent front suspension for better comfort.
The minivan will have C2 CRDe diesel technology, alongwith superior pulling power of 25 HP and a top speed of more than 70 kmph.
The minivan will offer fuel economy of 18 kmpl.