Interesting Facts Series – Mahindra & Mahindra
We shall be covering Interesting Facts pertaining to Mahindra & Mahindra in this post. Mahindra & Mahindra (M&M) Limited is an Indian multinational vehicle manufacturing corporation headquartered in Mumbai, Maharashtra, India. M&M is one of the largest vehicle manufacturers by production in India and the largest manufacturer of tractors in the world. M&M brands its products as “Mahindra” and produces SUVs, saloon cars, pickups, lightweight commercial vehicles, heavyweight commercial vehicles, two wheeled motorcycles and tractors.
1. The company was established on 2nd October 1945 as Mahindra & Mohammed by Mahindra brothers in collaboration with Ghulam Mohammed.The Company was renamed Mahindra & Mahindra Limited (M&M) in 1948, when Ghulam Mohammed left for Pakistan to be its first Finance minister.
2. Mahindra & Mahindra was founded as a steel trading company on October 2, 1945! The company joined hands with Willys Overland Corporation in 1954 to assemble Jeep-type vehicles in India.
3. In 1963, the International Tractor Company of India Limited was incorporated as a joint venture among the Company, International Harvester Inc. (now part of Case New Holland) and Voltas Limited to manufacture tractors in India. In 1977, ITCI merged with the Company and became its tractor division. The Company entered into technical collaboration arrangements with Peugeot in 1979 for the manufacture of diesel engines and transmissions and with KIA Motors in 1982 for the manufacture of transmission assemblies. In 1982, the International Harvester brand was discontinued and the “Mahindra” brand was born.
4. In the year 1991, the company introduced the Commander range of vehicles and the Armada range of vehicles was unveiled in 1993.
5. Mahindra & Mahindra became the first Indian auto manufacturer to launch the Common Rail Diesel Engine (CRDe), offering it in the Scorpio in 2005.
7. Mahindra & Mahindra bought 55% in Reva to power electric car biz on 26 May 2010. It also renamed it to Mahindra Electric in 2016 following taking 100% ownership.
8. Mahindra bought 70% in South Korea’s SsangYong Motor Company on January 20, 2013.
9. Mahindra bought Pininfarina for $28 million on Dec 14th 2015. M&M and affiliate Tech Mahindra , through a special purpose vehicle (SPV), bought a 76.06% stake in Italian car designer Pininfarina SpA, for around Rs.186.7 crore.
10. Mahindra picked up 36.63% stake in Meru Dec 5, 2019. It invested an amount of ₹44.71 crore for the said equity share capital of Meru.
12. Mahindra Scorpio was a $120 million development project (a lot for a company like M&M, if relatively inexpensive by Western standards) and the SUV assembled an engine by Renault, axle from Dana Corporation and metal coatings from Visteon! Scorpio had had all of its major systems designed directly by suppliers, with the only inputs from Mahindra being design, performance specifications and program cost. The design and engineering of the systems were carried out by suppliers, as well as testing, validation and materials selection. Sourcing and engineering locations were also chosen by suppliers!