M&M has already launched the Bolero in Nepal where it enjoys a leadership position in the utility vehicle segment.

The company has also launched the Bolero in other export markets such as Paraguay and Mozambique. It would also be exported to Indonesia in the current month, a company release added.

Launching the Bolero in Nepal, executive director and president Alan Durante said, "We would like to introduce new products, which would help M&M maintain its number one position in the Nepal utility vehicles market. In this era of globalisation, it is our commitment to launch products which meet the aspiration levels of the customers not only in the domestic markets but in the competitive overseas markets."

The Bolero was formally launched in Nepal on December 2, 2000. According to the company, the initial response has been very enthusiastic and M&M is executing more orders during the current month. Company officials, when contacted, however, refused to divulge the initial export figures that M&M was targeting.

The Bolero is being competitively-priced against other imported utility vehicles, company officials added.

M&M has positioned the Bolero as an urban utility vehicle. As part of this strategy, Bolero has features like air-conditioning, power steering, power windows, audio systems and central locking.

M&M's new offering in the multi-utility vehicle segment, Scorpio, is slated for a mid-2001 launch. The Scorpio is coming in three models, targeting the lower, middle and upper end of the sports utility vehicle segment. The total investment for the Scorpio, including the upgradation of the Nasik plant is around Rs 600 crore. Another M&M vehicle - the Voyager - would be relaunched shortly. The technical collaboration for the Voyager is provided by Mitsubishi. This will be the third time that M&M will be relaunching the Voyager, which is being produced under license from Mitsubishi Motors.