Mahindra & Mahindra
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.[1] 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.[2] Its major competitors in the Indian market include Maruti Suzuki and Tata Motors.[3]
History of Mahindra[edit]
Mahindra & Mahindra was founded as a steel trading company on October 2, 1945, in Ludhiana as Mahindra & Muhammed by brothers Harikrishnan and Jayakrishnan and Jagdish Chandra Mahindra along with Malik Ghulam Muhammad.[4] 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 became Pakistan's first finance minister. Thereafter, the company changed its name to Mahindra & Mahindra in 1948.[5] 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.
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.[6] M&M also has a controlling stake in the REVA Electric Car Company[7] and acquired South Korea's SsangYong Motor Company in 2011.[8] 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.[9]
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.
- ↑ "Indian Tractor Maker Mahindra Takes On Deere". Business Week. 1 August 2013. Retrieved 2 February 2014.
- ↑ "Mahindra & Mahindra in Fortune India list". Rediff.com. 22 December 2011. Retrieved 2 February 2014.
- ↑ "Top Competitors for Mahindra & Mahindra Limited". Hoovers. Retrieved 2 February 2014.
- ↑ "How we got here". Mahindra Corporate website. Retrieved 30 August 2019.
- ↑ "Edelweiss | About Mahindra & Mahindra Ltd". Edelweiss. Retrieved 2019-11-19. Unknown parameter
|url-status=ignored (help) - ↑ "Mahindra enters two-wheeler market riding on Kinetic". Indian Express. 31 July 2008. Retrieved 2 February 2014.
- ↑ "India's Mahindra buys Reva majority stake". AFP. 26 May 2010. Retrieved 2 February 2014.
- ↑ "M&M named lead bidder for SsangYong". The Economic Times. 13 August 2010. Retrieved 2 February 2014.
- ↑ "Mahindra takes an old French turn, buys 51% stakes on Peugeot Motocycles". dailybhasker.com. 9 October 2014. Retrieved 20 August 2015.
