Mahindra's Strategic Move: Acquiring SML Isuzu

Mahindra & Mahindra has successfully completed the acquisition of a controlling 58.96% stake in the renowned commercial vehicle manufacturer, SML Isuzu Ltd, renaming the entity as SML Mahindra Ltd.

The company's board has been revamped, with Mahindra Group veteran Vinod Sahay taking over as Executive Chairman, and Venkat Srinivas appointed as the Executive Director and CEO. The appointments are aimed at steering the company towards achieving a stronger market position.

This acquisition is a strategic move for Mahindra & Mahindra to amplify its presence in the 3.5T commercial vehicle segment. Currently holding a 3% market share, the company aims to expand this to 10-12% by FY31 and over 20% by FY36.

(With inputs from agencies.)