Friday, October 17, 2014
Mahindra Reportedly Bullish About Expanding Operations in the Philippine Market
Mahindra & Mahindra Limited (M&M), an Indian multi-national automobile manufacturing corporation with headquarters in Mumbai, has reportedly signed an official agreement with one of the Philippines’ largest automotive groups. The said agreement is set to pave the way for the aggressive expansion of Mahindra’s presence in the Philippines. Sources say that the Indian vehicle manufacturing giant is extremely bullish about their continued expansion of operations in the Philippine market due to confidence in the steady and sustained growth of the Philippine economy.
M&M is the largest vehicle manufacturer in India and is the largest seller of tractors in the world. It is also a major supplier of military vehicles in India, having had extensive experience in producing military jeeps thanks to its early association with Willys Jeep. It is a part of Mahindra Group, one of the most successful Indian conglomerates to date.
Originally set up as a steel trading company in 1945 by brothers K.C. Mahindra and J.C. Mahindra and Malik Ghulam Mohammed, M&M has grown to become one of India’s most trusted names. M&M eventually saw business opportunity in expanding into manufacturing and selling larger multi-purpose utility vehicles (MUVs), with assembly under license 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. Today, Mahindra & Mahindra is a key player in the utility vehicle manufacturing sector in the Indian automobile industry. The company has effectively used India’s growing global market presence in both the automotive and farming industries to push its products in more than 20 countries worldwide.
The Xylo AUV will reportedly be one of Mahindra’s first vehicle offerings for the Philippine market.