SsangYong Motor Company (SYMC), a part of the USD 16.5 billion Mahindra Group, today announced the launch of its eagerly awaited 'Tivoli compact SUV model in Seoul, South Korea. The Tivoli offers innovative styling and remarkable product competitiveness to customers and was launched at the Dongdaemun Design Plaza (DDP). The new SUV was developed over a period of four years, boasts trend setting style and best in class product competitiveness.

Commenting on this new model, Anand Mahindra, chairman, Mahindra Group, said, ''The Tivoli marks a significant new milestone in the growing partnership between Mahindra and SsangYong. This new SUV epitomizes the spirit of 'Korea Can Do' and reflects Ssangyong's rich legacy of innovation in product development. We are confident that the Tivoli is poised to drive SsangYong's growth in the future.''

Pawan Goenka, executive director, M&M, said, ''The launch of Tivoli marks a significant milestone as this is the first all new product post SsangYong's association with Mahindra. It is a proud moment in our journey together which has been one of mutual admiration, respect and learning. I am sure that with the launch of Tivoli, SsangYong will straddle the entire product spectrum in the SUV segment with diverse offerings at distinctive price points and value.''  

Shares of the company declined Rs 8.20, or 0.66%, to settle at Rs 1,238.55 at the BSE (Wednesday).