The SUV launch also marks the company's debut into the petrol segment. The company is targeting buyers who would otherwise go for premium hatchbacks like Maruti Suzuki's Swift and Hyundai's Grand i10, and stressed that the KUV1OO's price range between Rs 4.42 lakh to Rs 6.76 lakh is very competitive across variants.
Company's Executive Director Pawan Goenka said the SUV has been in the making for the last four years, while chief executive Pravin Shah said it has invested Rs 1,200 crore on the project.
In a video message, Chairman Anand Mahindra said launching Scorpio in 2002 was the first inflection point for the company, and the KUV1OO is the second inflection point.
"This is something new for Mahindra, we're going into an unchartered territory. Over the last 3-4 months, our confidence on having a winner on our hands has increased," Goenka said.
Goenka said the company has received 50,000 "hot enquiries" for the product in the last few weeks, but declined to specify a sales target.
Goenka said the company has received 1.4 million visits on a dedicated micro-website for the product over the last few months, and will be using the e-commerce websites like Flipkart to sell the SUV.