Mumbai: SsangYong Motor Co. (SYMC), part of the Mahindra group, introduced the Tivoli compact sports utility vehicle (SUV) in Seoul, the company said in a statement on Tuesday.

Priced at Korean won 16.3 million (approximately 9.31 lakh) for the base model and 13.53 lakh for the top-end variant, Mahindra SsangYong expects Tivoli to be a game changer in its segment. SsangYong has invested Korean won 350 billion to develop the model.

The new SUV, developed over a period of four years, is the first new product developed by the Korean firm after it was acquired by the Mahindra Group in 2009.

SsangYong’s first compact SUV is powered by a 1.6 litre engine and aimed at young city dwellers. The company plans to sell up to 100,000 units of the new model annually of which 40,000 units are planned for the South Korean market and the rest for export, it said.