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Hindustan Times
6 days ago
- Automotive
- Hindustan Times
Mahindra to pursue engineering actions to address rare earth magnet crisis: Group CFO
Mahindra plans to manage rare earth magnet supplies through alternative sourcing channels for the next nine months and will pursue engineering efforts to address the shortage of the critical raw material amid a growing product portfolio. This comes after the auto industry has been facing a crunch in the rare earth magnet supply, which is one of the key raw materials for automotive production, used in both electric vehicles as well as internal combustion engine-propelled vehicles. The imposition of export restrictions by China on key rare earth magnets has resulted in supply chain bottlenecks, impacting multiple sectors, including the auto industry. The rare earth magnets are essential components across sectors like automobiles and renewable energy. Also check these Cars Find more Cars UPCOMING Mahindra e20 NXT 15 kWh 15 kWh 140 km 140 km ₹ 6 - 8 Lakhs Alert Me When Launched UPCOMING Mahindra XUV500 2025 2179 cc 2179 cc Diesel Diesel ₹ 12 Lakhs Alert Me When Launched UPCOMING Mahindra Thar E 75 kWh 75 kWh 400 km 400 km ₹ 25 Lakhs Alert Me When Launched UPCOMING Mahindra Global Pik Up 2498 cc 2498 cc Diesel Diesel ₹ 25 Lakhs Alert Me When Launched UPCOMING Mahindra XEV 7e ₹ 21 - 30 Lakhs Alert Me When Launched Mahindra BE 6 79 kWh 79 kWh 682 km 682 km ₹ 18.90 Lakhs Compare View Offers PTI has reported that Mahindra has taken steps to build inventory through alternative sources to take care of the problem. "Basis, all the actions we have taken, FY26 is more or less managed. We have to now work on some medium and long-term actions," said Mahindra & Mahindra (M&M) Group Chief Financial Officer Amarjyoti Barua. He also added that this strategy has panned out well for the company so far, and it does not foresee any major risk for the next nine months. "But considering the growth plans we have, we have to think about a much bigger play than what the tactical plays we have done, and that is going to require a lot more engineering effort," Barua further said, while adding that Mahindra's engineers are working on various methods to work out a solution. Interestingly, Mahindra CFO's comment comes in similar lines to Maruti Suzuki. Last week, Maruti Suzuki stated that its engineers are working to mitigate the rare earth magnet shortage, and there has been no impact on its production so far. Among others, Hyundai Motor India has also stated that it is not facing any production issues due to the shortage of rare earth magnets. Check out Upcoming Cars in India 2025, Best SUVs in India. First Published Date:
Hindustan Times
02-08-2025
- Automotive
- Hindustan Times
Mahindra acquires 59% controlling stake in SML Isuzu
Mahindra & Mahindra (M&M) has announced that the company has acquired a 58.96 per cent take in SML Isuzu, expanding its presence in the commercial vehicle segment. The Indian auto giant has acquired the stake from Sumitomo Corporation, Japan, and Isuzu Motors Limited, Japan. The CV giant will be renamed 'SML Mahindra Limited', subject to regulatory approvals. Mahindra Acquires SML Isuzu The board of directors has appointed Vinod Sahay, President – Aerospace & Defence, Trucks, Buses & CE – Mahindra Group, as Executive Chairman of SML Isuzu, effective August 3, 2025. Dr. Venkat Srinivas has been appointed as the Executive Director & Chief Executive Officer of SML Isuzu Ltd., effective August 01, 2025. Also check these Cars Find more Cars UPCOMING Mahindra XUV500 2025 2179 cc 2179 cc Diesel Diesel ₹ 12 Lakhs Alert Me When Launched UPCOMING Mahindra e20 NXT 15 kWh 15 kWh 140 km 140 km ₹ 6 - 8 Lakhs Alert Me When Launched UPCOMING Mahindra Thar E 75 kWh 75 kWh 400 km 400 km ₹ 25 Lakhs Alert Me When Launched Mahindra XUV700 2184 cc 2184 cc Multiple Multiple ₹ 14.49 Lakhs Compare View Offers Mahindra Thar 2184 cc 2184 cc Multiple Multiple ₹ 11.50 Lakhs Compare View Offers Mahindra Scorpio Classic 2184 cc 2184 cc Diesel Diesel ₹ 13.77 Lakhs Compare View Offers As part of the transaction, Mahindra will launch a mandatory open offer for acquisition of up to 26 per cent stake from eligible public shareholders of SML in accordance with the SEBI Takeover Regulations. Mahindra entered into the agreement to acquire SML Isuzu in April this year at ₹650 per share, representing a total investment of ₹555 crore. The move will help Mahindra establish a strong presence in the 3.5 tonne and above segment, where the company has a 3 per cent market share at present. Meanwhile, it has a 54.2 per cent market share in the sub-3.5 tonne LCV segment. The acquisition aims to double the brand's market share to 6 per cent with a plan to increase the same to 10-12 per cent by FY2031, and 20 per cent by FY2036. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date:
