Mahindra’s Igatpuri Plant, India’s First Carbon Neutral Manufacturing Facility

Mahindra and Mahindra's engine manufacturing plant at Igatpuri, Maharashtra, has become India's first carbon neutral facility, a move that reaffirms the Group's commitment to go carbon neutral by 2040. The accomplishment was certified by Bureau Veritas (India) Pvt. Ltd., a global leader in Testing, Inspection and Certification (TIC).

By leveraging the latest technological advantages, Mahindra Group assumes pole position in the fight against carbon emissions. Close to 83% of the 100-acre land in the Igatpuri manufacturing plant is covered in green foliage. None of the waste from the plant goes to landfills and more than 99% of the waste generated is either recycled or reused. Owing to the green cover, dust levels have come down by 50-60%. The plant was also a subject of discussion at the World Biodiversity Forum in Egypt last year.

Mr. Vijay Kalra CEO - Mahindra Vehicle Manufacturers Ltd. & Chief Manufacturing Operations at Mahindra and Mahindra Limited, said, “This is the first plant within the Mahindra Group to be certified as carbon neutral. We have been able to achieve this through energy efficiency, a sharp focus on the use of renewable energy and the planting of trees to absorb residual carbon.”

M&M is the first Indian company to announce its internal Carbon Price of USD 10 per ton of carbon emitted to fund investments required to pursue the path of carbon neutrality. It has doubled the energy productivity of its automotive business almost 12 years ahead of schedule.M&M is also the first company in the world to sign on to the EP100 program, which is the global, collaborative initiative of influential businesses that pledges to double energy productivity by 2030.

Talking about the Company’s sustainable business initiative, Anirban Ghosh, Chief Sustainability Officer, Mahindra Group said, "Through the work we are doing on carbon neutrality, we are not only responding on the climate change challenge, but our work also results in improved efficiency, innovation and more importantly delivers on the business case for sustainability.”

Click here to see how Mahindra is reaffirming its commitment to Rise against climate change.

Partnering for EV Growth

With the aim of increasing the penetration and adoption of electric vehicles the Mahindra Group recently signed a MoU (Memorandum of Understanding) with Thane Municipal Corporation (TMC) to deploy 100 Electric Vehicles (EVs) for first and last-mile connectivity in Thane. This fleet of EVs will include the recently launched electric three-wheeler, Treo, powered by lithium-ion powered battery technology, as well as the mass passenger carrier, e-Supro van.

Mahindra Electric will deploy its daily vehicle and management services for an integrated smart mobility platform, while TMC will provide the requisite support in enabling the eco-system by building the infrastructure and allocating space for charging stations. TMC will also coordinate with power utility companies and other regulators to ensure low electricity tariff for EV charging and seamless execution of the project.

It is believed, that by 2030, there will be 7 mega cities in India with a population of over 10 million and almost 50 cities with a population of over one million. EVs will play a key role in decarbonizing these cities by providing

clean mobility solutions.

Dr Pawan Goenka, MD, Mahindra & Mahindra, said, “I would like to applaud TMC for this novel initiative of encouraging the large-scale adoption of electric vehicles. I am confident that together we will enable a major shift in the way the people of Thane commute and transition toward smart mobility and smart cities.”

Furthering the cause of green motoring, Mahindra Electric Mobility recently opened Rs 100 crore facility in Bengaluru to develop affordable EV technology. Mahindra and Mahindra joined hands with Uber to help the cab aggregator deploy a fleet of hundreds of electric cars in Delhi and Hyderabad by March next year. With the intention to offer consumers an array of EV mobility products spanning two and three wheelers, cars, buses and high-end performance cars, Mahindra and Mahindra is also working with global companies like Ssangyong in Korea and Automobili Pininfarina in Europe to design the future of mobility.

Pininfarina Looks East for Growth

Pininfarina's association with China began in 1996 as a styling and engineering service provider for car manufacturers. The Italian design and engineering house now offers a holistic range of design services that augment commercial development in diverse industries.

Pininfarina's Chinese headquarter was set up in 2010 and today, it serves as a key strategic outpost for the Asian market. The Shanghai design studio offers a 360° range of design services that span automotive to architecture and industrial design. In collaboration with Hybrid Kinetic Group Ltd., Pininfarina has already developed an evocative family of electric cars, while also foraying into the home space segment with a partnership with Hisense to combine heritage in furniture with innovative architecture and design. As the range of businesses multiply, profitability and business volumes of Pininfarina Shanghai continue to grow.The Q3 2018 key financial figures for the Company has recorded an increase of 76% in revenues as compared to the corresponding period of 2017. EBITDA (Gross Operating Profit) and EBIT (Operating Profit) has also

showed a significant jump with profits soaring four times of what was recorded in 2017.

Silvio Pietro Angori, CEO, Pininfarina Group, said, “China is the perfect place to express all our expertise and creativity in every sector. I believe that, together, with Chinese partners willing to innovate, we can create new icons of beauty as we did in our 88 years of history.”

Mahindra First Choice Consolidates its Leadership with Carnation Acquisition

India’s leading chain of multi-brand vehicle servicing, Mahindra First Choice (MFC) Services has entered into an asset acquisition agreement with Carnation Auto (India). The strategic alliance will facilitate penetration of MFC networks in metro cities, giving the brand greater outreach through Carnations franchisees and workshop network, especially in the Delhi NCR region and Mumbai.

MFC Services will acquire key assets of Carnation’s car-servicing business including the trademark ‘Carnation’, its website, software licenses and workshop network. MFC currently services about 4.8 lakh cars per year and with this acquisition,it expects to service about 6 lakh cars per year and attain a target of Rs 500 crore in

turnover in the next five years. The Company is also sprucing up its digital infrastructure to ensure participation on both, brick and mortar, and online platforms.

Mr. Rajeev Dubey, Group President (HR & Corporate Services) CEO (After-Market Sector), said, “This strategic acquisition will strengthen MFC’s business and its leadership position in the Indian automotive aftermarket industry. It will also bring new growth opportunities, thanks to synergies between the two brands, and expanded access to new institutional customers including insurance companies and fleets.”

Mahindra November 2018 Sales on the Growth Track

Mahindra and Mahindra recorded a growth in its November 2018 sales volume with the farm equipment sector posting a growth of 18% to 25,159 units in India. The total volume inclusive of exports stands at 25,949 tractors with a growth of 13.

Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd., said, “We expect that structural factors such as government's continued focus on rural and agri spends and momentum on key crop prices will ensure the demand uptick for tractors continues into Q4 of the current fiscal.”

Mahindra Automotive offers a wide range of mobility products and solutions ranging from SUVs, electric vehicles, pickups and commercial vehicles. The Mahindra Auto Sector witnessed a 17% growth in the month of November. While the domestic sales touched 41,564 vehicles during November 2018, registering a growth of 15%, exports for November 2018 stood at 3,537 vehicles, a growth of 40%.

Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We have registered a double-digit growth in our overall sales. Going forward, we hope that the decrease in fuel prices and improving liquidity will drive demand for passenger vehicles.”

For the same period, SsangYong Motor Company from Seoul, Korea, part of the Mahindra Group, sold 13,174 vehicles in domestic sales and exported 2,844 units including CKD kits. In terms of global sales, Rexton Sports, the most popular among SsangYong’s pick-up models has led the company’s growth in Korea, selling over 4,000 units for two consecutive months to post a massive 103.8% jump from the year earlier.

SsangYong Motor Global sold 13,174 vehicles in November 2018, up 9% over November 2017. The company had posted its best sales month this year in October helped by the sales up trend in its home market.

Choi Johng-sik, CEO of SsangYong Motor Company, said, “We achieved again our best monthly sales this year in November following October, remaining consistent with the uptrend, we will achieve the highest sales in Q4 by responding to growing needs flexibly.”

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