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Mahindra & Mahindra Limited

Type Public
 BSE: 500520
 NSE: M&M
Traded as
 BSE SENSEX Constituent

ISIN USY541641194
Industry Automotive
Predecessor Mahindra Renault Limited
02 October 1945; 74 years ago
Founded
Jassowal, Ludhiana, Punjab, India
J. C. Mahindra
Founders K. C. Mahindra
M. G. Muhammad
Headquarters Mumbai, Maharashtra, India
Area served Worldwide
Anand Mahindra
(Chairman)
Key people
Pawan Kumar Goenka
(MD)
Automobiles, commercial vehicles,
Products
two-wheelers
₹105,806 crore
Revenue
(US$15 billion)[1] (2019)
Operating ₹8,870 crore
 income (US$1.3 billion)[1] (2019)
₹6,016 crore
Net income
(US$870 million)[1] (2019)
₹163,391 crore
Total assets
(US$24 billion)[1] (2019)
Number of
42,875[2] (2019)
employees
Parent Mahindra Group
 Pininfarina (76.06%)
 Mahindra 2 Wheelers
 Ssangyong Motors
(74.65%)
 B.S.A Company
Subsidiaries  GenZe
 Mahindra Reva
 Peugeot Motocycles (51%)
 Ford India Private Limited
(51%)

Website www.mahindra.com

Mahindra & Mahindra Limited is an Indian multinational car 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.

It was ranked 17th on a list of top companies in India by Fortune India 500 in 2018.[4] Its major
competitors in the Indian market include Maruti Suzuki and Tata Motors.[5]

Contents
 1 History of Mahindra
o 1.1 Operations & Model Lineup
o 1.2 Automobiles
o 1.3 List of Mahindra models
o 1.4 Military defence
o 1.5 Energy
o 1.6 Farm equipment
  2 Factories
o 2.1 Engines and transmissions
o 2.2 Multi-purpose units
o 2.3 Tractors Only
o 2.4 Two-Wheelers Only
 2.4.1 Mahindra-owned facilities
 3 Naming of vehicles
 4 Employees
 5 Awards and recognitions
 6 See also
 7 References
 8 External links

History of Mahindra
Mahindra & Mahindra was founded as a steel trading company on October 2, 1945 in Ludhiana
as Mahindra & Muhammed by brothers Kailash Chandra Mahindra and Jagdish Chandra
Mahindra along with Malik Ghulam Muhammad.[6] Anand Mahindra, the present Chairman of
Mahindra Group is the grandson of Jagdish Chandra Mahindra. After India gained independence
and Pakistan was formed, Muhammad emigrated to Pakistan. Muhammad acquired Pakistani
citizenship and settled in Lahore, and in 1948 become Pakistan's first finance minister.
Thereafter, the company changed its name to Mahindra & Mahindra in 1948.[7] It eventually saw
a business opportunity in expanding into manufacturing and selling larger MUVs, starting with
the assembly under licence of the Willys Jeep in India. Soon established as the Jeep
manufacturers of India, the company later commenced manufacturing light commercial vehicles
(LCVs) and agricultural tractors.

Mahindra CL 550 MDI, with design licensed from Jeep

Over the past few years, the company has taken interest in new industries and in foreign markets.
They entered the two-wheeler industry by taking over Kinetic 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 and acquired a 100% controlling stake in October 2019.[11]

In December 2015, Mahindra and Mahindra Ltd and affiliate Tech Mahindra Ltd, through 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 Anonym 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 & Model Lineup

Automobiles

Mahindra & Mahindra's Kandivali Unit, Auto Sector Main gate overlooking Western Express
Highway, Mumbai

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]

1988 Mahindra CJ 640 DP, Peugeot XDP 4.90 diesel engine – Jeep CJ derived model with 4-
door closed body
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 Italy,[15] Mahindra USA Inc., Mahindra
South Africa and Mahindra (China) Tractor Co. Ltd.[16][17][18] In 2015, Mahindra reentered the
Philippine market after a brief presence in 1990s[19]

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 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 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 Pick-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.

List of Mahindra models

List of current Mahindra

models
LSEVs
Mahindra e2o
Superminis
Mahindra KUV100
Subcompact SUVs
Mahindra XUV300
Mahindra TUV300
Sedans
Mahindra Verito
Compact SUVs
Mahindra Thar
Midsized SUVs
Mahindra Scorpio
Mahindra XUV500
Mahindra Alturas G4
Large SUVs
Mahindra Bolero
Subcompact MPVs
Mahindra Marazzo
Mahindra Xylo
UTVs
Mahindra Roxor

Military defence

Mahindra Axe

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 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).[citation needed]

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

Main article: Mahindra Tractors

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]
Mahindra Arjun 605 DI tractor with trailer

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]

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
o Passenger cars (electric)
 Mahindra e2o
  Mahindra eVerito
o Small commercial vehicles (electric)
 Mahindra eSupro
 Mahindra Treo
 Mahindra eAlfa Mini
 Chakan (Pune), India
o Passenger cars
 Mahindra XUV500
 Mahindra TUV300
 Mahindra KUV100
 Mahindra Alturas G4
 Mahindra Marazzo
o Small commercial vehicles
 Mahindra Maxximo
 Mahindra Supro
 Scorpio Pick-up
o Large commercial vehicles
 All Mahindra Trucks and Buses
 Haridwar, India
o Passenger cars
 Mahindra Scorpio
 Mahindra Bolero
o Small commercial vehicles
 Mahindra Alfa
 Nasik, India
o Passenger cars
 Mahindra Thar
 Mahindra Xylo
 Mahindra Quanto
 Mahindra Bolero
 Mahindra Scorpio
 Mahindra Verito
 Mahindra Marazzo
 Mahindra XUV300
 Partial CKD for Mahindra Roxor
o Small commercial vehicles
 Scorpio Pick-up
 Zaheerabad, India
o Small commercial vehicles
 Mahindra Bolero Camper
 Mahindra Tourister
 Mahindra Alfa Auto Rickshaw
 Mahindra HyAlfa Auto Rickshaw
 Mahindra Jeeto
 Mahindra Comfio
 Mahindra Jayo
 o Tractors
 Pyeongtaek, South Korea
o All SsangYoung-Badged products sold in South Korea
 Changwon, South Korea
o Engines and parts for SsangYoung products.
 Durban, South Africa[55]
o Passenger cars
 Mahindra KUV100
 Mahindra Thar
 Mahindra TUV300
 Mahindra XUV500
 Mahindra Scorpio
o Small commercial vehicles
 Mahindra Bolero
 Mahindra Genio
 Mahindra Scorpio pick-up
 Detroit, US[56]
o Side-by-sides
 Mahindra Roxor

Tractors Only

 India
o Jaipur
o Zaheerabad
o Mumbai
o Mohali
o Nagpur
o Rudrapur
o Rajkot
o Vadodara
o Amreli
 Australia
o Brisbane
 China
o Jiangling
 US
o Chattanooga, Tennessee
o Houston, Texas
o Red Bluff, California
o Bloomsburg, Pennsylvania
o 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[by whom?] 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
 Companies portal
 Cars portal

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  "Mahindra wins Bombay Chamber Good Corporate Citizen Award". MoneyControl.com. 25
September 2007. Retrieved 2 February 2014.
  "FM tells corporates to embrace PM's social charter". The Hindu. 17 May 2008. Retrieved
2 February 2014.
  "FICCI – SEDF CSR Award 2007" (PDF). FICCI-SEDF. 16 May 2008. Archived from the
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  "Samsung beats Nokia to become India's most trusted brand of 2014". DNA India. 30
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67.  "Blue Bytes". Bluebytes.info. Retrieved 20 October 2018.

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