After staying in its core shell of the UV space, M&M made its way into the other segment in the passenger car industry by Logan joining hands with Renault.

While the partnership may not have worked for both the parties but as the giant has acquired the stake of Renault in the JV, it is believed that the company is working on its plan to launch a new product in the segment with a new name under the Mahindra badge.

However, more than that, it is believed that the company is also working on its plan to launch products in the already working under a situation of high competition, small car segment.

According to the sources close to the company, the estimated project cost for the company for the small car project is expected to range from Rs 800 crore to Rs 1400 crore, wherein the new platform for the small car is being developed in-house.

It has been heard that the company is working on products that are internally codenamed S101, S102 and S103 and the project is being spearheaded by the automotive sector president Pawan Goenka.