Mahindra to Expand into US Market

Mahindra & Mahindra Ltd has announced plans to expand into the US market, according to a statement made by the company’s chairman, Anand Mahindra. The company recently opened a new headquarters in North American north of Detroit and has invested USD 230 million in a plant in Detroit for manufacturing offloaders.

Mahindra is pursuing an aggressive growth strategy and had acquired the Italian automotive design firm Pininfarina in 2015, and the Korean carmaker Ssangyong, which specializes in utility and crossover vehicles in 2011. Mahindra& Mahindra is working with both these companies on the development of electric vehicles. Those made under the Pininfarina brand are likely to be positioned as competitors to tesla’s models. While Pininfarina is already developing a range of electric vehicles for China’s Hybrid Kinetic Group like the H600 hybrid sedan and has its very own supercar, the H2 Speed Concept, it is working on another supercar with Emerson Fittipaldi. Sssangyong is all set for the launch of an all-electric crossover vehicle in Korea in 2019.

Anand Mahindra said Mahindra & Mahindra Ltd is mulling the possibility of selling the Ssangyong and Pininfarina electric vehicles in both the United States and China. Ssangyong has already received approval for testing of autonomous vehicles in Korea.

Mahindra & Mahindra has been engaged in the production of electric vehicles in India from the mid-1990s, from the time it developed battery-powered, three-wheeled rickshaws for use in Delhi. The company acquired Reva Electric Car Co, a small manufacturing firm in Bangalore in 2010 and renamed it Mahindra Electric Mobility Ltd. The company designs and builds compact electric vehicles for the Indian market.

In September this year, the company had also renewed its partnership with Ford to collaborate on sharing of technology, product development and parts sourcing, especially for electric vehicles.