Mahindra looks for more in Lanka

To introduce hybrid vehicles soon:

Shirajiv Sirimane in Mumbai

Sri Lanka is the biggest export market for Mahindra and Mahindra Ltd of India, Mahindra and Mahindra Ltd Vice Chairman and Managing Director, Anand G. Mahindra said. Speaking to Daily News Business he said they have a phenomenal growth increase of 700 percent as against the previous year.

He said they hope to market over 12,000 vehicles for the 2011 in Sri Lanka. “Sri Lanka is the 800 pound gorilla in our portfolio,” he added.

“Mahindra has always been known for its ingenuity and never say die spirit. Whether we’re transforming the lives of millions of farmers through our agri-prosperity initiatives, creating green and innovative urban living spaces or investing in new automotive technologies and factories that leave the lowest carbon footprints,” he added.

Mahindra is present across the automotive spectrum - two-wheelers, three-wheelers, commercial vehicles, SUVs, MPVs to sedans, tractors and even powerboats and aircraft. In addition, the Group’s diversified nature of business spans many frontiers - automotive components, Finance, Insurance, IT, Retail, Real Estate, Hospitality, Logistics and After-Market.

He said they have been researching on hybrid vehicles since 2007 and was the first country in the region to do so.

“Look out for us we will spring a surprise by the end of the year in the motoring field,” he said.

During Anand’s tenure, Mahindra has also grown inorganically, seizing opportunities across the globe. Recent acquisitions include Ssangyong Motors, Reva Electric Car Company, Satyam Computer Services, Aerostaff Australia and Gippsland Aeronautics among others.

He also disclosed plans of aggressively moving to the aviation manufacturing sector.

Today, the Mahindra Group is a US $ 12.5 billion organization and one of India’s top 10 industrial houses. Mahindra has evolved into a socially and environmentally responsible global federation of companies with a leading presence in each sector in which it is present.

Mahindra, graduated with Honours (Magna cum laude) from Harvard College, Cambridge, Massachusetts, in 1977. In 1981 he secured an MBA degree from the Harvard Business School, Boston, Massachusetts.

The company also owns a modern plant in Chakan spread across 700 acres and planted with around 10,000 trees, offers a flexible and eco-friendly manufacturing layout for multiple Multi-Purpose Vehicles (MPVs), sport utility vehicles (SUVs) and commercial vehicles that allows us to respond rapidly to changing customer needs.

The newly appointed local agent (two years ago) for small commercial and utility vehicles for Mahindra and Mahindra Ltd is Ideal Motors.

Ideal Motors Chairman Nalin Welgama said they sold 4,000 vehicles last year and their target for this year is 12,500.