Mumbai-headquartered automotive major Mahindra & Mahindra has announced an ambitious growth plan for its commercial vehicle (CV) business, thanks to the recent strategic acquisition of a majority stake in SML Isuzu. The company aims to leverage this acquisition to accelerate its ‘Deliver Scale’ strategy across segments where it believes it has a strong ‘right to win.’

Dr Anish Shah, Managing Director and CEO, Mahindra Group, emphasised that the group’s disciplined focus on capital allocation remains intact. "We have seen significant growth across several businesses, and now, as we enter our third phase, the focus is on delivering scale," he said.

Shah also noted that Mahindra has turned around its CV business, once under scrutiny five years ago, and sees the acquisition of SML Isuzu as a strategic opportunity to cement its position further.

Today, Mahindra is the market leader in SUVs with a 23 percent market share and ranks fifth in the CV segment above 3.5 tonnes with a 3 percent share. Through the acquisition, Mahindra aims to become a more formidable player in the CV space.

"We are targeting a combined market share of 10-12 percent by FY2031 and over 20 percent by FY2036," said Rajesh Jejurikar, Executive Director and CEO – Auto and Farm Sectors, Mahindra & Mahindra. He acknowledged that Mahindra’s CV share, which stood at around 4-5 percent in FY2020, had dropped due to the impact of Covid-19. However, with renewed focus, especially in the LCV and ILCV segments, Mahindra is planning an aggressive recovery.

SML Isuzu brings strength in the intermediate LCV bus segment, holding a 16 percent market share. Mahindra expects that, combined, they could command a 21 percent share. "The synergies are substantial across cost structures, platforms, aggregates, supplier networks, and operations," Jejurikar added.

Growth, Not Cost-Cutting

Mahindra leaders were clear that the SML Isuzu acquisition is not about cost-cutting, but about building scale. "This deal is about growth, not about taking costs out," stressed Amarjyoti Barua, Chief Financial Officer, Mahindra Group. He highlighted that SML Isuzu will remain a separately listed entity and that Mahindra has no plans to rebrand it under the Swaraj name, even though it sees potential for the Swaraj brand in certain export markets.

Financially, Mahindra believes the deal makes strategic sense. Shah pointed out that the SML Isuzu business will be self-sustaining in generating cash for future investments.

The company sees SML Isuzu's operations as a ‘well-run and frugal factory,’ with most future investments primarily required to ramp up capacity.

Vinod Sahay, President - Aerospace & Defence, Trucks, Buses & CE, Mahindra, underlined how the product portfolios of Mahindra and SML Isuzu complement each other. SML Isuzu, for instance, is at an advanced stage in developing electric buses for school, staff and executive coach applications, an area where Mahindra's electrification expertise can add substantial value.

Sahay further highlighted how combining Mahindra and SML Isuzu’s supplier ecosystems will strengthen bargaining power, especially in critical areas like tyres, batteries and key aggregates. While Mahindra boasts strong sourcing power in tyres and batteries, SML Isuzu has an edge in CV parts.

Product synergy is another opportunity. SML’s strong CNG product line and Mahindra’s newer Furio and Cruzio models – offering 8-10 percent better fuel efficiency – will allow the combined business to offer compelling choices to customers across the LCV, ILCV and M&HCV categories.

With over 200 dealers and 400 touchpoints between them, Mahindra plans to optimise and expand network coverage for a wider reach.

While Mahindra is bullish on growth, Shah made it clear that there are no immediate plans for further acquisitions. "Now the business must prove itself," he said, reiterating the company’s strategic belief in building businesses that have a clear right to win, strong financial metrics and differentiated products.

Looking ahead, Mahindra is betting that a stable yet evolving CV market – especially in buses and light trucks, which the management stated will provide the runway needed for long-term growth, as the group consolidates its position as a dominant player across automotive categories.

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Montra Electric M&HCV, part of the Murugappa Group, has announced a major milestone for its Rhino 5538EV heavy-duty electric trucks, which it claims has collectively travelled over 12 million kilometres on Indian roads in just two years. The fleet of 350 trucks has been primarily deployed in critical sectors like steel, cement and port logistics.

This achievement highlights the growing viability of electric heavy-duty transport in India. According to Montra Electric, the fleet has helped companies reduce an estimated 3.79 million tons of CO2 emissions since its launch.

Jalaj Gupta, MD, Montra Electric, said, "This milestone is a powerful validation of India's transition to clean mobility. With the Rhino 5538EV, we are proving that electric heavy transport isn’t a distant future, it’s already a reality on Indian roads."

The Rhino 5538EV trucks have maintained an uptime of over 98 percent, demonstrating their reliability in demanding industrial environments. The company shared that customers have reportedly placed repeat orders for the trucks, citing significant savings on fuel and maintenance costs. Montra Electric is providing 24x7 on-site service on its fleets to ensure maximum productivity.

The Rhino EV is powered by a 282 kWh LFP (Lithium Iron Phosphate) battery and a PMSM (Permanent Magnet Synchronous Motor), delivering 380 horsepower and 2000 Nm of torque. The trucks support fast charging, which can bring the battery from 20 percent to 100 percent in just one hour. The company plans to expand its Rhino lineup to include a 4x2 tractor-trailer and a 6x4 tipper configuration.

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Pune-headquartered alternative fuel commercial vehicle manufacturer Blue Energy Motors has appointed Anand Mimani as CEO of its EV & New Energy Business.

Mimani will be responsible for the company’s focused vertical on integrated clean freight ecosystem. The automaker is working on accelerating expansion across electric heavy-duty vehicles, energy-as-a-service platforms and green corridor infrastructure.

He comes with over 26-years of experience in mobility, energy and clean tech. Till recently, he was the CEO of GreenLine Mobility Solutions, where he led the deployment of India’s largest fleet of LNG-pwoered trucks.

In his new role, Mimani will lead the EV & New Energy division’s business strategy, operations, product rollout and partner ecosystem — with a sharp focus on scaling zero-emission trucking solutions. He will report directly to Anirudh Bhuwalka, Founder & Managing Director, Blue Energy Motors, who continues to steer the company’s overall mission, strategic direction and group-level leadership.

Bhuwalka, said, “As we scale rapidly, it’s critical to bring in focused leadership for each of our high-growth verticals. Anand’s appointment as CEO of our EV and New Energy Business significantly strengthens our execution capacity in the electric mobility and infrastructure space, while advancing our broader vision for a zero-emission freight future.”

The Pune-based automaker is working on clean freight platform combining battery-electric, LNG and energy-as-a-service solutions under one integrated ecosystem. With EV and energy infrastructure representing a critical pillar of its scale-up, it is now strengthening leadership in this vertical to:

- Ramp up deployment of electric truck platforms

- Scale battery swap and charging hubs across key freight corridors

- Deepen partnerships with energy providers, logistics firms, and OEMs

Anand Mimani, said, “I’m excited to join Blue Energy at such a pivotal time. The opportunity to lead the EV & New Energy vertical – while working closely with Anirudh and the leadership team – is incredibly energising. Together, we aim to build a freight ecosystem that is clean, efficient, and future-proof.”

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David Hanna has been named Director of Volkswagen Commercial Vehicles UK, effective 1 October 2025. He brings extensive two-decade automotive industry experience from both manufacturer and retail perspectives.

Hanna originally joined Volkswagen Group UK in 2014 and has since cultivated deep brand knowledge through significant roles within the Audi, Volkswagen Passenger Cars and Volkswagen Commercial Vehicles divisions, including Head of Network Sales at Volkswagen Passenger Cars UK. This strategic appointment marks a return to the light commercial vehicles sector for Hanna, where his proven leadership and historical involvement are expected to drive the brand's future growth and strengthen its market position.

Damien O’Sullivan, Managing Director, Volkswagen Group UK, said, “I am delighted to welcome David to the Board of Management of Volkswagen Group UK in his new role as Director of Volkswagen Commercial Vehicles.  I’m sure he will bring strong leadership and considerable experience to this important role.”

Hanna said, “Volkswagen Commercial Vehicles is a fantastic brand with class-leading products and an incredible history. It also has one of the best team of retailers in the UK through its Van Centre Network. I’m excited to be able to lead the team in the UK, and am very much looking forward to working with them and the network again in order to continue the success of the brand.”

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Tata Motors, one of India’s largest commercial vehicle manufacturers, has launched the all-new Tata LPT 812, its latest offering in the Intermediate, Light and Medium Commercial Vehicles (ILMCV) segment.

The LPT 812 builds upon the company’s capabilities and is claimed to be India’s first 4-tyre truck with a 5-tonne rated payload. It is built on the company’s LPT platform, which is claimed to provide the ruggedness of a 6-tyre vehicle, while offering the efficiency, agility and lower maintenance of a 4-tyre truck. It is available in multi-load body options for customers operating across industrial goods, market load, F&V and courier applications, among others.

Rajesh Kaul, Vice-President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, “The launch of the Tata LPT 812 sets a new benchmark in customer profitability in the segment. This category-defining truck addresses the growing need for improved productivity, while delivering superior fuel efficiency, ease of operations and maximum uptime. It reflects our commitment to understanding evolving market requirements and developing advanced solutions that drive long-term business growth for our customers.”

In terms of performance, the LPT 812 comes with 4SPCR diesel engine, producing 125hp and 360Nm of torque, paired with a 5-speed gearbox and a booster-assisted clutch for smooth gearshifts. The truck comes with parabolic front suspension with an anti-roll bar, full S-Cam air brakes and tilt & telescopic power steering.

Tata Motors is providing a 3-year/300,000 km warranty as part of its aftersales assurance.

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