XUV300 will be equipped with top safety features such as seven airbags, besides dual-zone fully automatic climate control.

New Delhi: Homegrown auto major Mahindra & Mahindra on Wednesday announced opening of bookings for its upcoming new compact SUV XUV300.

The model, to be launched in February, will be available in both petrol and diesel engine variants, Mahindra & Mahindra said in a statement.

"The XUV300 is an exciting and comprehensive package that will compete with SUVs in the Rs 8-12 lakh (ex-showroom) price range," said Veejay Ram Nakra, chief of sales and marketing, M&M.

Bookings for XUV300 would be open at Mahindra dealerships across India and on the official brand website for Rs 20,000.

The new vehicle will compete with the likes of Maruti Suzuki's Vitara Brezza, Ford EcoSport and Tata Nexon.

XUV300 will be equipped with top safety features such as seven airbags, besides dual-zone fully automatic climate control and front parking sensors, M&M said. It will be built at M&M's manufacturing facility at Nashik in Maharashtra.