New Delhi, Jan 5 (IANS) Mahindra & Mahindra (M&M;) Thursday unveiled a sports utility vehicle — Rexton — from the stables of its subsidiary SsangYong and said it will develop a platform jointly with the South Korean arm for two new vehicles.

The Rexton, one of the four sport utility vehicles (SUVs) showcased at the Auto Expo 2012 here, is likely to hit showrooms in the next six months.

The company did not disclose the price tag but said that will be announced closer to the launch date of the vehicle.

“We have not yet decided whether we will sell them under the Mahindra brand or the SsangYong brand,” said Pawan Goenka, president-automotive sector, M&M.;

“We are developing an all new platform with SsangYong. It will be for two different products, but with same platform and engine. It will take 3-4 years to develop,” Goenka added.

Asked about the investment that would go into the same, he said: “When we develop a platform for one product, it takes Rs.600-800 crore. As this new platform will be for two products, it will require more than that amount.”

The auto major also said it intended to enter the heavy bus segment next year, which would be developed on the Mahindra Navistar platform.

Another SUV from SsangYong’s stable — Korando C — will hit Indian roads next year, said Goenka.