‘Baby Cheetah’ is Born

Taking the automotive industry by storm, Mahindra launched its eagerly-awaited compact SUV, the XUV300 (pronounced as XUV, Three Double ‘Oh’). The lovingly nicknamed ‘ Baby Cheetah’ is attractively priced at Rs. 7.90 lakh for the base W4 petrol variant, and Rs. 8.49 lakh for the base diesel version.

Anand Mahindra, Chairman, Mahindra Group, said, “We think it’s fun-to-drive nature makes it particularly appealing to the millennial.”

Subcompact SUV sales grew by 23% in 2018, making it the fastest growing segment in the Indian automotive market. Mahindra is now all set to disrupt this segment in India with the XUV300 that offers the perfect combination of sophistication and performance equipped with hi-tech features, best-in-class safety, and class-defining interiors. This edgy and stylish compact SUV model carries forward the characteristics of the XUV500 with its cheetah-like design and agility, thrilling performance, and advanced technology features.

With a focus on safety, the XUV300 is the first-in-class to offer seven airbags, including a knee airbag for the driver. It also has disc brake on all four wheels as a standard on all variants. Armed with free-flowing torque and nimble-footed maneuverability, the XUV300 is available in 6 monotone colors and 2 dual tone colors. The compact SUV will be built at the company’s manufacturing facility at Nashik, Maharashtra.

Take a look at the XUV300’s key features here!

The Green List

The world of sustainable business continues to evolve, and Mahindra Group is leading by example. It is the only Indian corporate to be listed as an “Organization to Watch” by the GreenBiz Group in the 2019 edition of its prestigious annual ‘State of Green Business’ report.

Anirban Ghosh, Chief Sustainability Officer, Mahindra Group, said, “We are privileged to be on this honor roll published by the GreenBiz Group. It is exciting to use innovative new technologies to drive our energy efficiency and discover possibilities in the overlap of planet and profit, as we progress on the path toward sustainable business practices.”

The “State of Green Business” report analyzes the key trends and metrics to assess how companies worldwide are adapting their business models to address the world’s most pressing environmental challenges. The trends in this year’s report focuses on the growing attention to product and packaging reuse, the growth of corporate action on deforestation, the rise of agricultural practices to mitigate climate change, the growth of electric trucks and buses, and the increased attention by institutional investors on companies’ environmental, social commitments and performance.

With climate issues accounting for three of the five risks deemed most likely to materialize in 2019, the Mahindra Group has demonstrated that sustainability does not come at the cost of profit; the revenue from Mahindra’s green businesses is now north of USD 400 million. The Group was also recognized in the report for its efforts to double energy productivity as the first EP100 signatory, and for its commitment to becoming carbon neutral by 2040.

Joel Makower, Chairman and Executive Editor of GreenBiz Group, and the report’s lead author, said, “These organizations are showing the way for the business community and others to accelerate progress in sustainability. We are proud to showcase Mahindra on this list and applaud them for their leadership work.”

A ‘Confluence’ of Ideas

With a focus on the role of citizenry, policy-makers and corporates in making cities more resilient, Mahindra Lifespaces recently concluded the fifth edition of ‘Confluence’, a thought leadership platform presented by the Mahindra World City in New Delhi on February 13.

Confluence 2019 helped build consensus on the development trajectory of resilient cities by focusing on two factors - the systems that make up our cities and their interdependencies and subsequent risks. With cities reeling under the stress of progress, Confluence 2019 addressed the theme of ‘Thinking Cities: The Rise of Resilience’, as global urban experts, policy-makers and urban leaders came together to work towards environmentally-responsible, economically-viable and socially-inclusive cities.

The event brought together representatives from diverse areas of expertise to address the issues in urban planning and generate transformative ideas that can be converted into action towards building resilient cities.

The first session - ‘Evolution of Cities’ looked into the models of urban resilience and focused on the need to rely on technology for building cities of the future with an emphasis on community-owned and community-driven urban planning. The consecutive session on ‘Leading the Change’ brought the spotlight on real-life change makers – those who have actively driven positive change within their cities.

In a milieu of rapid climate change, growing migrant population, inadequate infrastructure, pandemics and cyber-attacks, the urban fabric of our cities is getting increasingly frayed.

By 2030, cities are likely to house 40% of the country’s population and urban India will need approximately another 2.4 million homes to be built by 2020. With buildings in India accounting for 40% energy use, 30% raw material use, 20% water use and 20% land use, creation of cities comes with its own set of challenges and opportunities. As the global focus on urbanization shifts towards a more equitable, inclusive and resource-efficient future intensifies, it is time to redefine the approach and build cities that last.

Confluence 2019 concluded with a power-packed panel discussion titled ‘Crafting the Future', showing how sustainability and resilience are interwoven; with a symbiotic relationship between human, natural, social and physical capital.

Another Stellar Quarter

With another stellar quarter, the combined result from M&M and MVML (Mahindra Vehicles Manufacturers Ltd.) recorded the highest ever Q3 revenue and Profit After Tax (PAT). The Q3 FY19 results also reflected the segment-level highest ever Q3 performance, in terms of revenue from Automotive Sector and Farm Equipment Sector.

V. S. Parthasarathy, Group CFO and Group CIO, Mahindra Group, tweeted, “Q3 FY19 results remain undeterred by the macro headwinds. Mahindra delivers an all-round performance with Group revenue up at Rs 26,236 crore in Q3 (vs Rs 22,623 crore previous year).”

With three consecutive years of an almost normal monsoon, and continued government focus on rural development with sustained investment in infrastructure and road projects, the positive rural sentiment propelled growth.

The domestic tractor industry saw a growth of 19.2% with its highest ever Q3 sales of 217,054 tractors in Q3 F2019 against 182,133 tractors sold during Q3 FY2018 on account of the festive season.

In Q3 FY2019, the total domestic automotive volume for M&M grew by 9.6% over the corresponding quarter previous year. The Company also exported 9,652 vehicles during the current quarter, a growth of 36.6% over the corresponding quarter previous year.

Emission Control

Accelerating the momentum created by the Paris Climate Agreement, Tech Mahindra recently committed to a 22% reduction in Greenhouse Gas emissions by 2030 and 50% by 2050, while driving innovation and leading to new business incubation.

These emission targets are in line with the level of de-carbonization required to keep global temperatures below 2 degree Celsius as approved by SBTi (Science Based Target Initiatives). The SBTi defines and promotes best practice in science-based target setting and independently assesses the companies’ targets.

Conglomerates around the world are responding to the need for making the transition to low-carbon business models of the future. This provides a clearly defined pathway to future-proof growth by specifying how much and how quickly companies need to reduce their greenhouse gas emissions.

Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “Tech Mahindra is committed to the Paris Agreement targets and is consciously adopting a strategy which will deliver innovative solutions without adversely affecting the environment. Science Based Targets gives us a clear roadmap to optimize our carbon footprint and is enabling us to move towards a low carbon economy that will reduce future climate change risks.”

The transition to a low-carbon economy is the only way to secure sustainable prosperity for all. At Mahindra, our businesses are demonstrating that de-carbonization is possible while boosting employment, investment, and innovation. To fulfill this commitment to reduce greenhouse gas emission, Tech Mahindra is focusing on improving energy efficiency through process optimization, energy conservation initiatives, increased use of renewable energy and by investing in low emission and green technologies.

Cynthia Cummis, Director of Private Sector Climate Mitigation at World Resources Institute, one of the Science Based Targets initiative partners, said: “We congratulate Tech Mahindra on setting a science-based target. By aligning their strategy with the goals of the Paris Agreement, they are taking a leading role in the low-carbon transition and positioning their business to thrive as the global economy shifts to a sustainable future.”

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