Mahindra & Mahindra Limited (BSE: 500520) is part of the Indian Industrial Conglomerate
Mahindra Group based in Mumbai. The company was set up in 1945 in Ludhiana as Mahindra &
Mohammed by brothers K.C. Mahindra and J.C. Mahindra along with Malik Ghulam
Mohammed.[2] After India gained independence and Pakistan was formed; Malik Ghulam
Mohammed moved to Pakistan where he became the nation's first finance minister. Now, with
the Mahindra brothers as the whole sole of the company, its name was changed to Mahindra &
Mahindra in 1948.[3]
Initially set up to manufacture general-purpose utility vehicles, Mahindra & Mahindra (M&M)
was first known for assembly under licence of the iconic Willys Jeep in India. M&M introduced
Jeeps to India and in no time they established themselves as the Jeep manufacturers of India. The
company later branched out into the manufacture of light commercial vehicles (LCVs) and
agricultural tractors, rapidly growing from being a manufacturer of army vehicles and tractors to
an automobile major with a growing global market presence. At present, M&M is the leader in
the utility vehicle segment in India with its flagship UV Scorpio.
In recent times the company is engaged in spreading its reach beyond its traditional markets.
They entered into the two-wheeler segment by taking over the Kinetic Motors in India.[4] M&M
also has controlling stake in REVA Electric Car Company.[5] M&M has also been selected as the
preferred bidder for the acquisition of South Korea's SsangYong Motor Company.[6]
Mahindra Pick Up (old version)
Mahindra & Mahindra grew from being a maker of army vehicles to a major automobile and
tractor manufacturer. It has acquired plants in China[7] and the United Kingdom,[8] and has three
assembly plants in the USA. M&M has partnerships with international companies like Renault
SA, France[9] and International Truck and Engine Corporation, USA.
M&M has a global presence[10] and its products are exported to several countries.[11] Its global
subsidiaries include Mahindra Europe Srl. based in Italy,[12] Mahindra USA Inc., Mahindra South
Africa[13] and Mahindra (China) Tractor Co. Ltd.
M&M is one of the leading tractor brands in the world. It is also the largest manufacturer of
tractors in India [14] with sustained market leadership of over 25 years. It designs, develops,
manufactures and markets tractors as well as farm implements. Mahindra Tractors(China) Co.
Ltd. manufactures tractors for the growing Chinese market and is a hub for tractor exports to the
USA and other nations. M&M has a 100% subsidiary, Mahindra USA, which assembles products
for the American market.
M&M made its entry into the passenger car segment with the Logan in April 2007 under the
Mahindra Renault joint venture.[15] M&M will make its maiden entry into the heavy trucks
segment with Mahindra Navistar, the joint venture with International Truck, USA.[16]
M&M's automotive division makes a wide range of vehicles including MUVs, LCVs and three
wheelers. It offers over 20 models including new generation multi-utility vehicles like the
Scorpio and the Bolero. It formerly had a joint venture with Ford called Ford India Private
Limited to build passenger cars.
At the 2008 Delhi Auto Show, Mahindra executives said the company is pursuing an aggressive
product expansion program that would see the launch of several new platforms and vehicles over
the next three years, including an entry-level SUV designed to seat five passengers and powered
by a small turbodiesel engine.[17] True to their word, Mahindra & Mahindra launched the
Mahindra Xylo in January 2009, and as of June 2009, the Xylo has sold over 15000 units.[18]
Also in early 2008, Mahindra commenced its first overseas CKD operations with the launch of
the Mahindra Scorpio in Egypt,[19] in partnership with the Bavarian Auto Group. This was soon
followed by assembly facilities in Brazil. Vehicles assembled at the plant in Bramont, Manaus,
include Scorpio Pik Ups in single and double cab pick-up body styles as well as SUVs.[20]
The US based Reputation Institute recently ranked Mahindra among the top 10 Indian companies
in its 'Global 200: The World's Best Corporate Reputations' list.[21]
Mahindra & Mahindra has controlling stakes in Reva electric and has submitted letter of Intent
for South Korea's Ssangyong [22]
Mahindra planned to sell the diesel SUVs and pickup trucks starting in late 2010 in North
America[23] through an independent distributor, Global Vehicles USA, based in Alpharetta,
Georgia.[24] Mahindra announced it will import pickup trucks from India in knockdown kit
(CKD) form to circumvent the Chicken tax.[25] CKDs are complete vehicles that will be
assembled in the U.S. from kits of parts shipped in crates.[25] On 18 October 2010, however, it
was reported that Mahindra had indefinitely delayed the launch of vehicles into the North
American market, citing legal issues between it and Global Vehicles after Mahindra retracted its
contract with Global Vehicles earlier in 2010, due to a decision to sell the vehicles directly to
consumers instead of through Global Vehicles.[26]
