mumbai auto major mahindra mahindra on thursday launched its maiden compact suv quanto at rs 582 lakh the company aims at commencing its exports in the next three to four months the company will start exporting the quanto to neigbhouring countries such as bangladesh nepal and sri lanka besides south africa to begin with in the next three to four months which would be followed by europe and latin america mm president for automotive farm equipment sectors pawan goenka said after the launch the quanto which is our first compact suv will create a new category within the suv segment he said adding the mahindra is aiming to sell around 200 units a month initially the home grown auto major currently sells around 2500 units of xylo per month the sub4meter quanto priced in the range of rs 582 to rs 736 lakh is designed and developed on the ingenio platform which is the same as the one for the xylo the company has invested rs 100 crore in developing the fiveseater quanto goenka said adding the new car will be produced at its nashik facility mm has a combined capacity of 7000 units for the xylo and the quanto he said quanto will face competition from recently launched duster by renault in the compact suv segment the french auto major has priced the duster between rs 835 and 118 lakh mm also plans to launch rexton sports utility vehicle and mahindra reva nxr electric car ahead of the forthcoming diwali festival