Mahindra & Mahindra (M&M), a passenger, commercial and utility vehicles maker, has unveiled its much-awaited all-new SUV, XUV700, at price starting from Rs 11.99 lakh (ex-showroom) onwards. The XUV700 will come in variants including diesel and gasoline, manual and automatic options and with 5 and 7-seater capacity. It will also be available in an optional All-Wheel-Drive (AWD) spec.

The bookings for the new SUV will begin before the festive season. The automaker also plans to launch nine new SUVs by 2026.

Anish Shah, MD & CEO, M&M said, "It is sheer passion that drives our people to create advanced, adventure-ready vehicles, with an unmissable presence. We are ready to lead the core SUV segment with nine new exciting SUVs planned for launch by 2026. And our most ambitious addition, the XUV700, is throbbing and pulsating with technology, power and intelligence to let people explore the impossible."

Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, M&M, said, "Every once in a while, an automobile comes to change the future course of its manufacturer and in the process, it transforms the segment itself. The XUV700 marks the beginning of a whole new Mahindra and a new era and for the SUV segment in India. We have raised the bar on best-in-class features, technology and design. Our customers are in for a longstanding treat with the innovative new XUV700."

Shares of the company gained Rs 20.55, or 2.64%, to settle  at  Rs 799.30.  The total volume of shares traded  was  498,642 at  the BSE (Monday).