Mahindra&Mahindra is an Indian multinational corporation that is primarily engaged in the automotive, agricultural, and industrial machinery, construction equipment, financial services, and information technology industries. Mahindra employs over 100,000 people in 25 countries across four continents. In India, it has over 20 manufacturing facilities as well as engineering centers.
Mahindra is also significantly involved in research and development with a corporate technical staff of 3000. It has invested approximately $1 billion into research and development since 2003. Mahindra’s global headquarters are located in Mumbai, India.
Mahindra&Mahindra Limited (M&M) is an Indian multinational corporation engaged in the manufacturing of automotive, utility, commercial vehicles, and tractors. The company focuses on four core areas – Resources; Farm and Power; Automobiles and Auto Ancillaries; Capital Goods and Services. Mahindra employs over 100,000 people in 25 countries across four continents.
The company was founded in 1945 as a small arms manufacturer and began producing jeeps in 1947 under the “Mahindra & Mahindra” brand name. It diversified into four businesses: automotive products, utility vehicles (jeeps), information technology solutions, and financial services 2001.
1944 Company incorporated as “Mahindra&Mahindra” Limited, a company that manufactures tractors, bicycles, and rifles.
1947 First motorcycle is produced.
1948 The first products of the company are jeeps; ten years later the number of products reaches about 100. The company releases its first car, “Jungle HF”.
1950 Jeeps are sold under the brand name “Mahindra”, and the tractor factory produces 300 tractors.
1953 The company begins manufacturing bicycles under the brand name “Mahindra Rajdoot”, and two years later it also starts producing motorcycles under this name.
1958 Farm machinery business is established with an initial investment of ₹ 10 million ($60,000).
1959 Company launches a three-wheeler truck with an air-cooled engine and a load capacity of 1.5 tonnes. Sales of the “Mundra” range of commercial vehicles begin.
1960 The company enters the chassis-manufacturing business by setting up a plant to manufacture the chassis for military trucks, along with manufacturing heavy trucks for civilian use. The company also begins producing aluminum crankshafts for diesel engines.
1991 Company launches an electric model of three-wheelers (Mahindra Maxx) and two years later introduces its first petrol-powered Maxx model (Mahindra Arjun). Two years later, M&M launched India’s first multi-utility vehicle “Mahindra Bolero”.
Operations and products
Mahindra&Mahindra is a leading producer of utility vehicles and tractors in India. Its product range extends to 200 different models, including SUVs and taxis. Its multi-utility vehicle line and off-road vehicles claimed the highest market share in 2010 (41% and 35% respectively). M&M has launched over 400 types of vehicles since its inception. In 2007, Mahindra launched a hybrid version of the Jeep Grand Cherokee with a 1000 cc engine under the name Mahindra Verito.
The company manufactures tractors for the Indian market as well as export markets like Bangladesh, Myanmar, Nepal, Pakistan, and Sri Lanka.
The company’s tractor manufacturing business is led by two joint ventures, Mahindra Asia Tractors Ltd. and Mahindra Tractors (Siam) Co. Ltd. Its agricultural products range includes tractors, implements, and spare parts for the Indian market. The utility vehicle lineup includes the Bolero Pickup, Scorpio SUV (SUV), Xylo SUV, Genio sedan (sedan), the Quanto crosses and pick-ups, and the popular Thar off-roaders. Mahindra offers financial products such as loans, insurance policies, and other types of credit facilities through its subsidiaries: M&M Insurance Company Ltd., Shriram Life Insurance Company Ltd., Mahindra Credit & Housing Finance Ltd.
The automobile segment, which accounts for over 60% of the company’s consolidated revenues, manufactures and sells a range of passenger cars (Mahindra Xylo, Genio), SUVs (Mahindra Scorpio, XUV 500), and light commercial vehicles (Mahindra Bolero). The company also has a joint venture with Renault called “M&M – SofAsia Renault Pvt Ltd” to produce cars in India. This joint venture company introduced the first sedan made in India – Verito.
In May 2010, Mahindra announced plans to add a “small car” to its lineup by 2012 with an annual capacity of 200,000 units at USD100 million. The company stated that it will use indigenously developed technology.
They produces about 1.4 million vehicles annually for India alone and exports about 60% of these top 40 countries. The company is also involved in research and development with a corporate technical staff of 3000.
Agricultural products and services
Mahindra&Mahindra emerged as a leader in the Indian tractor manufacturing industry by building competitive models like Mahindra Chieftain and Mahindra Bolero at affordable prices in the country. Mahindra has joint ventures with leading players in the automotive and industrial equipment space such as Fiat, KAVO, and Caterpillar Inc. This is involve in the business of manufacturing commercial vehicles, tractors, and ancillary products, along with producing engineering components for all these sectors.
Mahindra entered the heavy truck segment in 1961 with its Mundra range of trucks. In 1981, a fully own subsidiary name Mahindra Truck & Bus Co. Ltd was form to manufacture commercial vehicles.
Mahindra in North America
Mahindra has begun operations in North America by taking over the operations of Force Motors from its previous owners, Ford. The company will manufacture and market the “Force” brand of commercial vehicles and tractors. The jointly-own company is now call Mahindra Force.
Mahindra enter Europe in 1999 with a joint venture with benchmark AG name Mahindra&Mahindra Europe GmbH, based in Cologne (Germany). Therefore, the joint venture was establish to market and sell tractors, utility vehicles, and special-purpose machinery for material handling.
In 2003, Mahindra&Mahindra entered the Benelux market by establishing a joint venture company with the Dutch company of Kwik-Fit. Therefore, the two cooperated to launch a range of light commercial vehicles and establish a parts manufacturing facility for Kwik-Fit’s existing products. As a result, Kwik-Fit was acquire by Mahindra in 2006.
Mahindra South Africa
In August 2008, Mahindra&Mahindra formed a joint venture with French industrial supplier Ural to produce heavy trucks in South Africa. However, the Ural owns 51 percent of this joint venture, called Bosch Motors, with Mahindra holding the remaining 49 percent equity stake. Therefore, this joint venture is the first entry for the Indian company in South Africa. The company has since set up a second factory in East London, South Africa.
In 2010, Mahindra&Mahindra Ltd establish a new subsidiary company name Mahindra Singapore Pte Ltd. However, this subsidiary firm was establish to establish a new headquarters and manufacturing facility at Changi Industrial Park in Singapore. Therefore, the group’s manufacturing operations are expect to commence in 2011 with a production capacity of 120,000 units per annum. As a result, it will compete with the local market leader Mercedes Benz Commercial Vehicles Sdn Bhd.
Awards and recognitions
Mahindra has won several awards, including the “Golden Award of Excellence in Productivity” from “Asia Auto Products Expo” in Singapore. Mahindra was also award the prestigious “Automotive Business Excellence Award from Asia’s Financial Times”. However, in 2011, Mahindra won a global award for its tractor and truck sales under the ‘Mahindra & Mahindra’ nameplate.
In June 2010, Mahindra received an honorary Doctorate degree from the National University of Malaysia.
Mahindra and Mahindra Ltd is an Indian multinational corporation headquarter in Mumbai and wholly owned by the Godrej family’s Godrej Group.