Mumbai, Feb 14 ( PTI) Mahindra & Mahindra Thursday launched a new SUV, the XUV300, which is a souped down variant of the premium model XUV500.

The sub-4 meter XUV300 comes in both petrol and diesel options, and are priced in the range of Rs 7.90-8.49 lakh, respectively, and is powered by a 1.2-litre (petrol) and 1.5- litre (diesel) engine.

The company is expecting the new SUV to clock higher volumes that the XUV500 when launched in 2011, chairman Anand Mahindra said at the launch and on the back of the rollout of Marazzo and Alturas G4 recently.

The sub-4 meter segment already has the likes of the EcoSport from ford, Vitara Brezza from Maruti Suzuki and the Nexon from Tata Motors.

“The XUV brand when launched in 2011 was an inflection moment in our automotive journey. Today, as we launch the XUV300, we take the aspirational levels higher. Based on the X100 platform of SsangYong, the XUV300 is a global product that combines Korean technology with Indian innovation and finesse,” Mahindra said.

Managing director Pawan Goenka said the new SUV is their latest offering in the next generation of aspirational vehicles, after the Marazzo and the Alturas G4.

This is published unedited from the PTI feed.