Mahindra & Mahindra Limited (M&M) is an Indian multinational automotive manufacturing corporation headquartered in Mumbai. It was established in 1945 as Mahindra & Muhammad and later renamed as Mahindra & Mahindra. Part of the Mahindra Group, M&M is one of the largest vehicle manufacturers by production in India. Its subsidiary Mahindra Tractors is the largest manufacturer of tractors in the world by volume. It was ranked 17th on a list of top companies in India by Fortune India 500 in 2018. Its major competitors in the Indian market include Maruti Suzuki and Tata Motors.
Mahindra & Mahindra was founded as a steel trading company on 2 October 1945 in Ludhiana as Mahindra & Muhammad by brothers Kailash Chandra Mahindra and Jagdish Chandra Mahindra along with Malik Ghulam Muhammad (1895–1956). Anand Mahindra, the present Chairman of Mahindra Group, is the grandson of Jagdish Chandra Mahindra. After India gained independence and Pakistan was formed, Muhammad emigrated to Pakistan. He acquired Pakistani citizenship and became the first finance minister of Pakistan. He served as Governor-General of Pakistan from 1951 to 1956.
In 1948, the company changed its name to Mahindra & Mahindra. They eventually saw a business opportunity in expanding into manufacturing and selling larger MUVs and started assembling under license of the Willys Jeep in India. Soon, M&M was established as the Jeep manufacturer in India, later commenced manufacturing light commercial vehicles (LCVs) and agricultural tractors.
In 1999, Mahindra purchased 100% of Gujarat Tractors from the and in 2017 Mahindra renamed it as Gromax Agri Equipment Limited, as part of new brand strategy and the models continue to be sold as Trakstar.
In 2007, M&M acquired Punjab Tractor Limited (PTL) making it the world’s largest tractor manufacturer. Subsequent to this take-over, the former PTL was merged into M&M and transformed as Swaraj division of Mahindra & Mahindra in the year 2009.
Over the past few years, the company has taken interest in new industries and in foreign markets. In 2008, they entered the two-wheeler industry by taking over Kinetic Motors in India.