Mahindra XUV500 is the official name of W201

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Mahindra & Mahindra Ltd. (M&M) has priced its new sports utility vehicle (SUV) called XUV500 between Rs. 12 lakhs and Rs. 20 lakhs, Pawan Goenka, President - Automotive Division said on Friday.

The XUV500 will be manufactured at the Company's new plant at Chakan near Pune, Goenka told reporters in Mumbai. 

The Company aims to launch the new global SUV in markets such as Western Europe, Latin America, Africa, Australia and Southeast Asia by the end of December, Goenka said.

The XUV500 will be initially sold in India and South Africa before its introduction in other markets worldwide, he said.

Mahindra XUV500 is likely to be powered by a 4-cylinder 2.2L MHawk CRDe engine.

M&M is also expected to introduce SsangYong's Rexton SUV later this year and will be sold as a CBU import in the Indian market, according to reports

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