Gio Compact car launched in Kerala

Gio Compact car launched in Kerala

Described as the 'most affordable' 4 wheeler Cab, the product has been developed to "change the face of intra city stage and contract carriage travel in India", Jacob Vargehse General Manager, Sales Strategy Planning and Commercial, Automotive Division, told reporters here.

The capacity of Mahindra's Haridwar plant, from where the product will be rolled out, is 24,000 per annum which can be increased upto 48,000 per annum in case demands goes up, he said.

The Gio compact Cab is priced at Rs 1.95 lakh (ex-showroom kochi). The company said the vehicle will redefine specific use in areas like the school children movement segment in Tier II and III towns, besides segments like large campuses, resorts and factories which have transportation requirements within their own premises.

The company had announced renaming of Logan yesterday.

"We are delighted to announce that the Logan will now be called the Verito. It will sport the Mahindra badge and emblem," the company said.

Last April, M&M and Renault had agreed to part ways from their joint venture--Mahindra Renault Pvt Ltd -- that was formed in 2005 to produce and sell the Logan in India, as the car failed to meet expectations.

M&M had agreed to buy out Renault's 49 per cent stake in the JV for an undisclosed sum. The French auto major, however, agreed to continue to support M&M and Logan through a licence agreement and supply key components, including the engine and transmission.