Mahindra & Mahindra

Mahindra & Mahindra Limited is an Indian multinational car

Mahindra & Mahindra Limited
manufacturing corporation headquartered in Mumbai, Maharashtra, India.
It was established in 1945 as Muhammad & Mahindra and later renamed
as Mahindra and Mahindra. It is one of the largest vehicle manufacturers
by production in India and the largest manufacturer of tractors in the
world.[3] It is a part of the Mahindra Group, an Indian conglomerate. Type Public
Traded as BSE: 500520 (https://ww
It was ranked 17th on a list of top companies in India by Fortune India
w.bseindia.com/stock-sha
500 in 2018.[4] Its major competitors in the Indian market include Maruti re-price/x/y/500520/)
Suzuki and Tata Motors.[5]
NSE: M&M (https://www.
nseindia.com/live_marke
t/dynaContent/live_watch/
get_quote/GetQuote.jsp?
Contents symbol=M%26M)
History BSE SENSEX
Operations Constituent
Automobiles
Industry Automotive
Military defence
Energy Founded 02 October 1945
Farm equipment Jassowal, Ludhiana,
Punjab, India
Factories
Engines and transmissions Founders J. C. Mahindra
Multi-purpose units K. C. Mahindra
Tractors Only M. G. Muhammad
Two-Wheelers Only Headquarters Mumbai, Maharashtra,
Mahindra-owned facilities India
Naming of vehicles Area served Worldwide
Employees Key people Anand Mahindra
Awards and recognitions (Chairman)

See also Pawan Kumar Goenka

(MD)
References
External links Products Automobiles, commercial
vehicles, two-wheelers
Revenue ₹105,806 crore
(US$15 billion)[1] (2019)
History
Operating ₹8,870 crore
Mahindra & Mahindra was founded as a steel trading company on income (US$1.3 billion)[1] (2019)
October 2, 1945 in Ludhiana as Mahindra & Mohammed by brothers
Net income ₹6,016 crore
Kailash Chandra Mahindra and Jagdish Chandra Mahindra along with (US$870 million)[1] (2019)
Malik Ghulam Muhammad.[6] Anand Mahindra, the present Chairman of
Total assets ₹163,391 crore
Mahindra Group is the grand-son of Jagdish Chandra Mahindra. After (US$24 billion)[1] (2019)
India gained independence and Pakistan was formed, Muhammad
Number of 42,875[2] (2019)
emigrated to Pakistan. Muhammad acquired Pakistani citizenship and employees
settled in Lahore, and in 1948 become Pakistan's first finance minister. Parent Mahindra Group
Thereafter, the company changed its name to Mahindra & Mahindra in Subsidiaries Pininfarina (76.06%)
1948.[7] It eventually saw a business opportunity in expanding into
Mahindra 2 Wheelers
manufacturing and selling larger MUVs, starting with the assembly under
Ssangyong Motors
licence of the Willys Jeep in India. Soon established as the Jeep
(74.65%)
manufacturers of India, the company later commenced manufacturing
B.S.A Company
light commercial vehicles (LCVs) and agricultural tractors.
GenZe
Over the past few years, the Mahindra Reva
company has taken interest in new Peugeot Motocycles
industries and in foreign markets. (51%)
They entered the two-wheeler www.mahindra.com (htt
Website
industry by taking over Kinetic p://www.mahindra.com/)
Motors in India.[8] M&M also has
a controlling stake in the REVA Electric Car Company[9] and acquired South Korea's
SsangYong Motor Company in 2011.[10] In 2010–11 M&M entered in micro drip
irrigation with the takeover of EPC Industries Ltd in Nashik.

In October 2014, Mahindra and Mahindra acquired a 51% controlling stake in Peugeot
Motocycles.[11]

Mahindra CL 550 MDI, with In December 2015, Mahindra and Mahindra Ltd and affiliate Tech Mahindra Ltd, through
design licensed from Jeep a special purpose vehicle (SPV), have agreed to buy a 76.06% stake in Italian car designer
Pininfarina SpA, for €25.3 million (around Rs.186.7 crore).

In January 2017, Mahindra and Mahindra Ltd (M&M) acquired a 75.1 equity stake in Hisarlar Makina Sanayi ve Ticaret Anonim
Şirketi (Hisarlar), a farm equipment company, marking its entry into Turkey.

In September 2017 Mahindra and Mahindra Ltd acquired Erkunt Traktor Sanayii AS, a Turkish tractor maker and its foundry
business for ₹800 crore.

Operations

Automobiles
Mahindra & Mahindra, brands its products as "Mahindra", produces SUVs,
saloon cars, pickups, lightweight commercial vehicles, heavyweight commercial
vehicles, two wheeled motorcycles and tractors. Mahindra maintains business
relations with foreign companies like Renault SA, France.[12]

M&M has a global presence[13] and its products are exported to several
countries.[14] Its global subsidiaries include Mahindra Europe S.r.l. based in
Mahindra & Mahindra's Kandivali
Italy,[15] Mahindra USA Inc., Mahindra South Africa and Mahindra (China)
Unit, Auto Sector Main gate
Tractor Co. Ltd.[16][17][18] In 2015, Mahindra reentered the Philippine market overlooking Western Express
after a brief presence in 1990s[19] Highway, Mumbai

Mahindra began assembling the Jeep CJ3 in 1954, and light commercial vehicles
in 1965. In 1979 the licensed assembly of Peugeot diesel four-cylinder engines and transmissions began, and in 1982 a tie-up
with Kia Motors to build their four-speed KMT90 transmission and transfer case was announced.[20] Mahindra's MM range was a
mainstay of the lineup and was eventually also offered with a 1.8-liter Isuzu
petrol engine in addition to International and Peugeot diesels.[21] Mahindra
started making passenger vehicles firstly with the Logan in April 2007 under the
Mahindra Renault joint venture.[22] M&M made its maiden entry into the heavy
trucks segment with the Mahindra Truck and Bus Division, the joint venture
with International Truck, USA.[23]

Mahindra produces a wide range of vehicles, including MUVs, LCVs and three-
wheelers. It manufactures over 20 models of cars, including larger, multi-utility
1988 Mahindra CJ 640 DP, Peugeot
vehicles like the Scorpio and the Bolero. It formerly had a joint venture with
XDP 4.90 diesel engine – Jeep CJ
Ford called Ford India Private Limited to build Passenger cars. derived model with 4-door closed
body
At the 2008 Delhi Auto Show, Mahindra executives said the company was
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, turbocharged Diesel engine.[24] True to their word, Mahindra & Mahindra launched the Mahindra Xylo in
January 2009, selling over 15,000 units in its first six months.[25]

Also in early 2008, Mahindra commenced its first overseas CKD operations with the launch of the Mahindra Scorpio in
Egypt,[26] 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.[27]

Mahindra planned to sell the diesel SUVs and pickup trucks starting in late 2010 in North America[28] through an independent
distributor, Global Vehicles USA, based in Alpharetta, Georgia.[29] Mahindra announced it would import pickup trucks from
India in knockdown kit (CKD) form to circumvent the Chicken tax.[30] CKDs are complete vehicles that were assembled in the
United States from kits of parts shipped in crates.[30] 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.[31] However, a November 2010 report quoted John Perez, the CEO of Global
Vehicles USA, as estimating that he expected Mahindra's small Diesel pickups to go on sale in the United States by spring 2011,
although legal complications remained, and Perez, while hopeful, admitted that arbitration could take more than a year.[32] Later
reports suggested that the delays may be due to Mahindra scrapping the original model of the truck and replacing it with an
upgraded one before selling them to Americans.[33] In June 2012, a mass tort lawsuit was filed against Mahindra by its American
dealers, alleging the company of conspiracy and fraud.[34]

Mahindra & Mahindra has a controlling stake in Mahindra REVA Electric Vehicles. In 2011, it also gained a controlling stake in
South Korea's SsangYong Motor Company.

Mahindra launched its relatively heavily publicised SUV, XUV500, code named as W201 in September 2011. The new SUV by
Mahindra was designed in-house and it was developed on the first global SUV platform that could be used for developing more
SUVs. In India, the new Mahindra XUV 500 came in a price range between ₹1,140,000–1,500,000. The company was expected
to launch three products in 2015 (two SUVs and pme CV) and an XUV 500 hybrid. Mahindra's two wheeler segment launched a
new scooter in the first quarter of 2015.[35] Besides India, the company also targeted Europe, Africa, Australia and Latin America
for this model.[36] Mahindra President Mr. Pawan Goenka stated that the company planned to launch six new models in the
year.[37] The company launched the CNG version of its mini truck Maxximo on 29 June 2012.[38] A new version of the Verito in
Diesel and petrol options was launched by the company on 26 July 2012 to compete with Maruti's Dzire and Toyota Kirloskar
Motor's Etios.[39]
On 30 July 2015, Mahindra released sketches of a new compact SUV called the TUV300 slated to be launched on 10 September
2015.[40] The TUV300 design took cues from a battle tank and used a downsized version of the mHawk engine found on the
XUV500, Scorpio and some models of the Xylo. This new engine was dubbed the mHawk80.[41]

Mahindra has also entered an app based intra-city cargo platform known as SMARTSHIFT, a first-of-its-kind load exchange
platform for Small commercial vehicles. It enable's businessmen who wish to transport cargo & transporters to find each other.
The platform enables contact, negotiation & sealing the deal between the two parties at just the click of a button!

Mahindra Automotive North America (MANA), the company's U.S. subsidiary, opened a car manufacturing plant in Detroit,
Michigan on 20 November 2017. The plant employs 250 people, and is the first automotive production facility to open in Detroit
in 25 years.[42] The first product from the new facility was launched on March 2, 2018 as the Mahindra Roxor.[43] In September
3 Mahindra Marazzo was launched.

Military defence
The company has built and assembled military vehicles, commencing in 1947
with the importation of the Willys Jeep that had been widely used in World War
II.[44] Its line of military vehicles include the Axe. It also maintains a joint
venture with BAE Systems, Defence Land Systems India.[45]

Energy
Mahindra & Mahindra entered the energy sector in 2002, in response to growing
Mahindra Axe
demands for increased electric power in India.[46]

Since then, more than 150,000 Mahindra Powerol engines and Diesel generator
sets (gensets) have been installed in India. The inverters, batteries, and gensets are manufactured at three facilities in Pune
(Maharashtra), Chennai (Tamil Nadu), and Delhi; and 160 service points across India offer continuous support to most key
markets. Powerol is present in countries across Latin America, Africa, the Middle East, and Southeast Asia—and expanding into
the United Arab Emirates, Bangladesh, and Nepal.[46] Mahindra Powerol's energy services consist mostly of power leasing and
telecom infrastructure management.[47] In 2006, it became a major market leader in the telecom segment (and in 2011, its market
share passed 45 percent).

Mahindra Cleantech Ltd focuses in eco-friendly, or "green" power. In response to growing acceptance of solar power, it formed a
subsidiary, Mahindra Solar, in 2010 to offer a range of solar systems, both off grid and on grid, alongside Engineering,
Procurement, and Construction (EPC).[48]

Mahindra EPC is the engineering procurement and construction arm of the Mahindra group. A portfolio company under the
Cleantech arm of Mahindra Partners, they offer solar systems spanning On-Grid, EPC (Engineering, Procurement and
Construction) and Off-Grid products. The company commenced its operations in the year 2011 and has commissioned over 60
MW worth of Solar PV projects.[49]

Meanwhile, its off-grid products include power packs and rooftop setups for business organisations and public institutions
alongside rural electrification through lanterns and home and street lighting systems. The company works closely with
Mahindra's farm equipment division to offer lighting products to some of the more rural areas in India. It also works with
Mahindra Powerol to offer solar power backup to telecom sites in India. In 2011, Mahindra Solar received a CRISIL rating of
SP1A in 2011, the highest rating for any solar photovaltaic off-grid company.[48]

Farm equipment
Mahindra began manufacturing tractors for the Indian market during the early '60s. It is the top tractor company in the world (by
volume) with annual sales totaling more than 200,000 tractors. Since its inception, the company has sold over 2.1 million
tractors.[50] Mahindra & Mahindra's farm equipment division (Mahindra Tractors) has over 1,000 dealers servicing approx. 1.45
million customers.[51]

Mahindra tractors are available in 40 countries, including India, the United States, China, Australia, New Zealand, Africa
(Nigeria, Mali, Chad, Gambia, Angola, Sudan, Ghana, and Morocco), Latin America (Chile, Argentina, Brazil, Venezuela,
Central America, and the Caribbean), South Asia (Sri Lanka, Bangladesh, and Nepal), the Middle East (Iran and Syria) and
Eastern Europe (Serbia, Turkey, and Macedonia.[51] Mahindra Tractors manufactures its products at four plants in India, two in
Mainland China, three in the United States, and one in Australia. It has three major subsidiaries: Mahindra USA, Mahindra
(China) Tractor Company, and Mahindra Yueda (Yancheng) Tractor Company (a joint venture with the Jiangsu Yueda Group).[51]

In 2003, the Farm Equipment Sector of Mahindra & Mahindra won the Deming
Application Prize[52][53] and in 2007 it received the Japan Quality Medal for
implementing Total Quality Management in its entire business operations.[54]
The company has garnered the highest customer satisfaction index (CSI) in the
industry at 88 percent.[51] It earned a 2008 Golden Peacock Award in the
Innovative Product/Services category for its in-house development of a load
car.[51] In its 2009 survey of Asia's 200 most admired and innovative companies,
the Wall Street Journal named Mahindra & Mahindra one of the 10 most
innovative Indian companies.[51] Mahindra Arjun 605 DI tractor with
trailer
In addition to tractors, Mahindra sells other farm equipment. It has expanded its
product-line to include farm-support services via Mahindra AppliTrac (farm
mechanisation products), Mahindra ShubhLabh (seeds, crop protection, and market linkages and distribution), and the Samriddhi
Initiative (farm counselling and information services).

The Mahindra Automotive and Farm Equipment Sectors (AFS), is one of the largest contributors to the Mahindra Group revenue
and includes 27 businesses, 18 subsidiaries and 9 companies.

The Automotive business accounts for about 48% of India's utility vehicle market share and is the number two CV player in
India. The business has a presence in almost every segment of the automobile industry with SUVs, luxury UVs, sedans, pick-ups,
light, medium and heavy commercial vehicles to three-wheelers. Their customer base spans rural and urban India.

The Farm Equipment department also provides irrigation, fertilization, seeds through varied agriculture and allied businesses.

Factories

Engines and transmissions

Igatpuri, India

Multi-purpose units
Bangalore, India

Passenger cars (electric)

Mahindra e2o
Mahindra eVerito
 Small commercial vehicles (electric)

Mahindra eSupro
Mahindra Treo
Mahindra eAlfa Mini
Chakan (Pune), India

Passenger cars

Mahindra XUV500
Mahindra TUV300
Mahindra KUV100
Mahindra Alturas G4
Mahindra Marazzo
Small commercial vehicles

Mahindra Maxximo
Mahindra Supro
Scorpio Pick-up
Large commercial vehicles

All Mahindra Trucks and Buses

Haridwar, India

Passenger cars

Mahindra Scorpio
Mahindra Bolero
Small commercial vehicles

Mahindra Alfa
Nasik, India

Passenger cars

Mahindra Thar
Mahindra Xylo
Mahindra Quanto
Mahindra Bolero
Mahindra Scorpio
Mahindra Verito
Mahindra Marazzo
Mahindra XUV300
Partial CKD for Mahindra Roxor
Small commercial vehicles

Scorpio Pick-up
Zaheerabad, India

Small commercial vehicles

Mahindra Bolero Camper

Mahindra Tourister
Mahindra Alfa Auto Rickshaw
Mahindra HyAlfa Auto Rickshaw
Mahindra Jeeto
Mahindra Comfio
Mahindra Jayo
Tractors
 Pyeongtaek, South Korea

All SsangYoung-Badged products sold in South Korea

Changwon, South Korea

Engines and parts for SsangYoung products.

Durban, South Africa[55]

Passenger cars

Mahindra KUV100
Mahindra Thar
Mahindra TUV300
Mahindra XUV500
Mahindra Scorpio
Small commercial vehicles

Mahindra Bolero
Mahindra Genio
Mahindra Scorpio pick-up
Detroit, US[56]

Side-by-sides

Mahindra Roxor

Tractors Only
India

Jaipur
Zaheerabad
Mumbai
Mohali
Nagpur
Rudrapur
Rajkot
Vadodara
Amreli
Australia

Brisbane
China

Jiangling
US

Chattanooga, Tennessee
Houston, Texas
Red Bluff, California
Bloomsburg, Pennsylvania
Lyons, Kansas
Chad
Gambia
Mali
Nigeria
Ghana
 Benin
Somalia

Two-Wheelers Only

Mahindra-owned facilities

Pithampur (Indore), India

Naming of vehicles
Most commercial and passenger vehicles made by the company follow the invisible rule of ending with an 'O', like in Scorpio,
Mahindra Verito, XUV500. It is believed that the company does this due to the success of its first two vehicles - Scorpio and
Bolero.[57]

Employees
As on 31 March 2018, the company had 41,673 employees of it 20,806 were temporary employees, apprentices and trainees. It
also had 690 (3%) permanent female employees on the same date.[58]

Awards and recognitions

Bombay Chamber Good Corporate Citizen Award for 2006–07.[59]
Businessworld FICCI-SEDF Corporate Social Responsibility Award 2007.[60][61]
The Brand Trust Report ranked M&M as India's 10th Most Trusted Brand in its India Study 2014 survey (from
20,000 brands analyzed).[62][63]
Its Farm Equipment division received the Deming Prize in 2003.[52]
Its Farm Equipment division received the Japan Quality Medal in 2007.[64]
The US based Reputation Institute ranked M&M amongst the top Ten Indian companies in its 'Global 200: The
World's Best Corporate Reputations' list for 2008.[65]
Bluebytes News rated M&M as India's second Most Reputed Car Company (reported in their study titled
Reputation Benchmark Study) conducted for the Auto (Cars) Sector in 2012.[66][67]

See also
Mahindra & Mahindra Financial Services Limited
List of companies of India
Automotive industry in India
Mahindra EPC
Mahindra Racing

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External links
Official website (http://www.mahindra.com)

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