Mahindra & Mahindra Limited

This article is about the company. For the entire conglomerate, see Mahindra Group. For other uses, see Mahindra (disambiguation).

Mahindra & Mahindra Limited

Type	Public (BSE: 500520)
Industry	Automotive Farm Equipment
Founded	1945
Headquarters	Mumbai, Maharashtra, India
Key people	Keshub Mahindra , Chairman; Anand Mahindra , Vice Chairman & Managing Director
Revenue	23,803.24 crore (US$4.83 billion) (2011).[1]
Net income	2,871.49 crore (US$582.34 million) (2010).[2]
Employees	119,900 [2]
Parent	Mahindra Group
Website	Mahindra.com

Mahindra & Mahindra Limited (BSE: 500520) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. The company was set up in 1945 in Ludhiana as Mahindra & Mohammed by brothers K.C. Mahindra and J.C. Mahindra and Malik Ghulam Mohammed.^[3] After India gained independence and Pakistan was formed, Mohammed emigrated to Pakistan where he became the nation's first finance minister. The company changed its name to Mahindra & Mahindra in 1948.^[4]

History

Mahindra & Mahindra was set up as a steel trading company in 1945. It soon expanded into manufacturing general-purpose utility vehicles, starting with assembly under licence of the iconic Willys Jeep in India. Soon established as the Jeep manufacturers of India, M&M later branched out into the manufacture of light commercial vehicles (LCVs) and agricultural tractors. Today, M&M is the leader in the utility vehicle segment in India with its flagship UV Scorpio and enjoys a growing global market presence in both the automotive and tractor businesses.

Over the past few years, M&M has expanded into new industries and geographies. They entered into the two-wheeler segment by taking over Kinetic Motors in India.^[5] M&M also has controlling stake in REVA Electric Car Company^[6] and acquired South Korea's SsangYong Motor Company in 2011.^[7]

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.^[8]

Automotive

Automotive Mahindra & Mahindra Limited

Mahindra Scorpio Mahindra Jeep CJ 340. Mahindra Bolero

Mahindra XUV 500 Mahindra Axe Mahindra Bolero Camper(old version)

Mahindra Legend used by MONUC in DR of Congo Mahindra Xylo Mahindra Verito

Mahindra & Mahindra is a major automobile manufacturer of utility vehicles, passenger cars, pickups, commercial vehicles, and two wheelers. Its tractors are sold on six continents. It has acquired plants in China^[9] and the United Kingdom,^[10] and has three assembly plants in the USA. M&M has partnerships with international companies like Renault SA, France^[11] and International Truck and Engine Corporation, USA.

M&M has a global presence^[12] and its products are exported to several countries.^[13] Its global subsidiaries include Mahindra Europe Srl. based in Italy,^[14] Mahindra USA Inc., Mahindra South Africa^[15] and Mahindra (China) Tractor Co. Ltd.

M&M made its entry into the passenger car segment with the Logan in April 2007 under the Mahindra Renault joint venture.^[16] M&M will make its maiden entry into the heavy trucks segment with Mahindra Navistar, the joint venture with International Truck, USA.^[17]

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.^[18] 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.^[19]

Also in early 2008, Mahindra commenced its first overseas CKD operations with the launch of the Mahindra Scorpio in Egypt,^[20] 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.^[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] However, a November 2010 report quoted John Perez, the CEO of Global Vehicles USA, as estimating that he expects Mahindra’s small diesel pickups to go on sale in the U.S. by spring 2011, although legal complications remain, and Perez, while hopeful, admits that arbitration could take more than a year.^[27] Later reports suggest that the delays may be due to an Manindra scrapping the original model of the truck and replacing it with an upgraded one before selling them to Americans^[28]

In 2010, India's Mahindra & Mahindra Limited was named as the preferred bidder to acquire the bankruptcy-protected SsangYong Motor Company.[2] Mahindra is expected to gain a controlling stake in the company by March 2011 and the planned acquisition has been approved by South Korea's Free Trade Commission^[29]

Mahindra & Mahindra Ltd. (M&M), has launched its much awaited SUV, XUV 500, code named as W201^[30]. The last ‘500’ in the name is pronounced as ‘5 double ‘O’ (alphabet). The new SUV by Mahindra has been designed in-house and it is developed on the first global SUV platform that could be used for developing more SUVs. In India, the new Mahindra XUV 500 comes in a price range^[31] between Rs 14 lakh to Rs 15 lakh. The Mahindra XUV 500 was launched in September.

Besides India and South Africa, the company also targets Europe, Africa, Australia and Latin America markets for this model.^[32]

Farm Equipment

M&M is one of the leading tractor brands in the world by volume. It is also the largest manufacturer of tractors in India ^[33] 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.

Awards

1. Bombay Chamber Good Corporate Citizen Award for 2006-07 ^[34]
2. Businessworld FICCI-SEDF Corporate Social Responsibility Award – 2007
3. Deming Prize ^[35]
4. Japan Quality Medal in 2007^[36]

Models

• Mahindra MM540DP
• Mahindra MM550DP
• Mahindra Armada
• Mahindra Commander
• Mahindra Marshal
• Mahindra Major
• Mahindra Legend
• Mahindra Thar
• Mahindra Invader
• Mahindra Bolero
• Mahindra Xylo
• Mahindra Scorpio
• Mahindra Verito
• Mahindra XUV500

External links

• Mahindra & Mahindra Official Website
• Mahindra Universe
• Mahindra USA

References

1. ^ "BSE India". http://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx?scripcode=500520. 
2. ^ ^{a b} Annual Report, Mahindra
3. ^ "History". Mahindra. http://www.mahindra.com/Heritage/History.html. 
4. ^ "Milestones to success". Mahindra. http://www.mahindra.com/Heritage/milestonesyearwise.htm#1948. 
5. ^ "Mahindra enters two-wheeler market riding on Kinetic". Indian Express. http://www.indianexpress.com/news/mahindra-enters-twowheeler-market-riding-on/342686. 
6. ^ "India's Mahindra buys Reva majority stake". AFP. http://www.google.com/hostednews/afp/article/ALeqM5js84m602eFQAY39bjXLeJpA14HIQ. 
7. ^ "M&M named lead bidder for SsangYong". The Economic Times. http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/MM-named-lead-bidder-for-SsangYong/articleshow/6302225.cms. 
8. ^ International Business Times on Indian Companies in Reputation Institutes Rankings, additional text.
9. ^ Mahindra in China,.
10. ^ Mahindra buys UK company.
11. ^ Mahindra-Renault Launch the Logan,.
12. ^ M&M in Ghana,.
13. ^ Mahindra exports to South East Asia, .
14. ^ Mahindra Acquires Italian Auto Design Firm.
15. ^ Mahindra Scorpio in SA, .
16. ^ Mahindra-Renault Launch Logan, additional text.
17. ^ The Hindu on Mahindra International,.
18. ^ Mahindra Looking for Expansion,.
19. ^ "M&M net soars 152% as Xylo picks up speed". dnaindia.com. 31 July 2009. http://www.dnaindia.com/money/report_m-and-m-net-soars-152pct-as-xylo-picks-up-speed_1278579. Retrieved 2009-09-11. 
20. ^ M&M in Egypt, .
21. ^ in Brazil, Egypt,.
22. ^ Posted by Fahimz. "Teen Traders' Blog " Blog Archive " Mahindra now submits letter of intent for Ssangyong". Topupguru.com. http://topupguru.com/2010/05/29/mahindra-now-submit-letter-of-intent-for-ssangyong/. Retrieved 2010-09-28. 
23. ^ Ulrich, Lawrence (24 December 2009). "2009 Was a Clunker. Time to Cash It In.". The New York Times. http://www.nytimes.com/2009/12/27/automobiles/27year.html?pagewanted=2&ref=business. Retrieved 27 December 2009. 
24. ^ "Mahindra Heading Stateside in 2009?". The Auto Writer. http://thearticlewriter.com/autowriter/mahindra-heading-stateside-in-2009/. Retrieved 2008-06-14. 
25. ^ ^{a b} "Mahindra Planning Kit Assembly of Diesel Pickups To Avoid Chicken Tax". Motor Trend, Benson Kong, 1 June 2009. http://www.trucktrend.com/features/news/2009/163_news090601_mahindra_planning_kit_assembly_of_diesel_pickups_to_avoid_chicken_tax/index.html. 
26. ^ "Report: Mahindra introduction to U.S. 'indefinitely delayed'". Autoblog. 18 October 2010. http://www.autoblog.com/2010/10/18/report-mahindra-introduction-to-u-s-indefinitely-delayed/. Retrieved 19 October 2010. 
27. ^ "Global Vehicles USA Still Hopes to Sell Mahindra Truck by Spring". pickuptrucks.com. 8 November 2010. http://news.pickuptrucks.com/2010/11/global-vehicles-usa-still-hopes-to-sell-mahindra-trucks-by-spring.html. Retrieved 12 January 2011. 
28. ^ Edward Niedermeyer (30 December 2010). "Mahindra Delay Explained? New Pickup Model Coming". "The truth about cars". http://www.thetruthaboutcars.com/2010/12/mahindra-delay-explained-new-pickup-model-coming/. Retrieved 12 January 2011. 
29. ^ Česky. "SsangYong Motor Company - Wikipedia, the free encyclopedia". En.wikipedia.org. http://en.wikipedia.org/wiki/SsangYong_Motor_Company. Retrieved 2010-11-23. 
30. ^ Mahindra XUV 500
31. ^ Mahindra XUV 500 price
32. ^ Global SUV
33. ^ The Equity Profile of Keshub Mahindra, additional text.
34. ^ MoneyControl.com, additional text.
35. ^ Hindu Business Line ,.
36. ^ The Machinist on M&M winning the Japan Quality Medal, additional text.

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