Update: Mahindra U301 to be called TUV300, launch in September 2015

Mahindra’s U301 or the 'mini-Bolero' has been seen testing on roads across India for a long time now. The company has now announced that it will reveal the SUV's official name along with its details on July 30, 2015.

Here’s what we know about it:

Mahindra is readying three new compact SUVs for the market here. The U301, the S101/102 which features a monocoque construction and a thoroughly updated Quanto. The U301, unlike the S101/102 compact SUV is being developed on a shorter iteration of the all-new ladder frame chassis that also underpins the new Scorpio. With the U301, M&M plans to target the rural market which favours rugged SUVs, and will likely position it as a mini-Bolero to take advantage of the large fan following the Bolero has in the hinterland. The U301 will be positioned slightly above the Bolero.

The U301 will be equipped with the same 1.5-litre motor that does duty on the Quanto, with the option of a manual as well as  an AMT gearbox. Mahindra is also likely to offer AWD on the U301 compact SUV, but at a later stage. It will also be offered as a seven-seater to maximise appeal. As seen from the various spy images, the U301’s styling is more squarish and rugged-looking, in line with traditional Mahindra offerings. It is been said that the U301 will be one of the top fuel-efficient compact SUVs in India upon launch.

The Mahindra U301s interior had also been snapped by one of our readers earlier. It features a mix of faux aluminum and chrome. The steering wheel will be all new and is likely to be seen on future Mahindra offerings as well. It will also get a large screen at the centre, along with a touchscreen infotainment system on higher trims.