Mumbai-based automotive major Mahindra & Mahindra has announced a bold move to strengthen its position in the commercial vehicle (CV) market with an agreement to acquire a 58.96 percent stake in SML Isuzu (SML) at INR 650 per share, representing an investment of INR 5.55 billion.

Following the acquisition, Mahindra will also launch a mandatory open offer to acquire up to an additional 26 percent stake from public shareholders, in compliance with SEBI's Takeover Regulations.

This strategic acquisition marks a major step forward in Mahindra’s ambition to expand its footprint in the >3.5-tonne CV segment. At present, Mahindra holds a modest 3 percent market share in this space, compared to its dominant 52 percent share in the <3.5-tonne light commercial vehicle (LCV) market. With the addition of SML’s capabilities and brand strength, Mahindra expects to immediately double its market share to 6 percent, and is aiming for 10–12 percent by FY2031 and over 20 percent by FY2036.

Founded in 1983, SML Isuzu is a listed company with a all-India presence and a strong legacy in the trucks and buses segment. It holds a leading 16 percent market share in the Intermediate Light Commercial Vehicle (ILCV) buses category. For FY2024, SML reported operating revenue of INR 21.96 billion and an EBITDA of INR 1.79 billion, showcasing profitable operations, frugal manufacturing and strong engineering capabilities.

Mahindra sees the acquisition as an opportunity to unlock significant value through synergies across cost optimisation, network expansion, brand integration, manufacturing efficiency, talent pool strengthening and complementary product portfolios. Mahindra states that its Trucks and Buses Division has already made notable advances in technology, design and innovation by leveraging its broader automotive capabilities – strengths that will be further enhanced through this deal.

The transaction structure involves Mahindra acquiring the entire 43.96 percent stake held by Sumitomo Corporation, the current promoter of SML, as well as a 15 percent stake from Isuzu Motors.

Dr Anish Shah, Group CEO & MD, Mahindra Group, said: “The acquisition of SML Isuzu marks a significant milestone in Mahindra Group’s vision of delivering 5x growth in our emerging businesses. This acquisition is aligned with our capital allocation strategy for investing in high-potential growth areas that have a strong right to win and have demonstrated operational excellence.”

Rajesh Jejurikar, Executive Director and CEO, Auto and Farm Sector, Mahindra & Mahindra, added, “SML brings a strong legacy, a loyal customer base and a credible product portfolio that complements Mahindra’s existing offerings in the trucks and buses segment. This acquisition is a pivotal step toward our ambition to become a full-range, formidable player in commercial vehicles by enhancing market coverage, unlocking operating leverage through platform consolidation, a unified supplier and network base, and better plant utilisation. Together, we are well-positioned to scale rapidly and drive profitable growth.”

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Ashok Leyland, the flagship company of the Hinduja Group, has opened a new 3S dealership for light commercial vehicles (LCVs) in Agra, marking its fifth LCV dealership in Western Uttar Pradesh. Operated by channel partner Maya Autotech, the new dealership is equipped with advanced tools and quick-service bays to provide a superior customer experience. It will offer Ashok Leyland's full range of LCVs, including the Bada Dost, Dost, Saathi, Partner and MiTR models.

It was just recently, the company entered the sub-2-tonne segment with the launch of the Ashok Leyland Saathi. Powered by a new-generation 45 hp engine, the Saathi features an industry-leading payload capacity of 1,120 kg and the largest loading area in its class.

On the other hand, the popular Bada Dost is available in five variants and is equipped with an 80 hp BS6 engine, offering high power, mileage, and payload capacity. The Dost range includes the Dost Xl and Dost+ XL, while the Partner is a fuel-efficient load carrier available in both 4-tyre and 6-tyre options. The MiTR bus, built on the same platform as the Partner, comes in staff and school bus variants.

Viplav Shah, Head of LCV Business at Ashok Leyland, said, “Uttar Pradesh has always been a key market for us, and we are delighted to deepen our presence here with the new dealership in Agra. Our journey with customers in this region has been shaped by trust, performance, and shared progress. The new dealership in Agra builds on the remarkable success of our Dost, Bada Dost and now the Saathi range, which continue to earn the trust of customers for their superior mileage, performance, and reliability. Our strong network and an exceptional service retention rate of nearly 70 percent reflect the deep confidence customers place in us. This dealership is another step forward in our commitment to deliver world-class products and unmatched service, ensuring an exceptional experience for every customer.”

Ashok Leyland’s LCVs were developed to meet the specific needs of Indian customers, combining modern technology with competitive pricing. The company has a significant presence in the segment, with over 550,000 LCVs currently operating across India.

All of these LCVs are manufactured at Ashok Leyland's state-of-the-art plant in Hosur. With a network of more than 1,700 exclusive outlets nationwide, the company aims to have an authorised service center every 75 km on major highways.

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Tata Motors, one of India's biggest commercial vehicle makers, has partnered with its Sri Lankan distributor, DIMO, to launch 10 new commercial vehicles. The launch, which includes a range of trucks and buses, marks a significant expansion of Tata Motors' offerings in the country and celebrates the 65th anniversary of its partnership with DIMO.

The new line-up, the company shared, is designed to meet a wide array of cargo and passenger needs, offering robust, efficient and reliable transport solutions for Sri Lanka's evolving market. The vehicles are engineered for durability across challenging terrains while ensuring comfort and operational efficiency.

Girish Wagh, Executive Director, Tata Motors, said, “With a rich legacy and deep understanding of the Sri Lankan market, we have introduced application-oriented vehicles to meet the country’s growing infrastructure, public transportation, and logistics needs. This enhanced portfolio delivers a compelling proposition of superior performance, reliability, and optimised total cost of ownership — empowering customers to achieve greater efficiency and profitability. Backed by DIMO’s enduring partnership of six and a half decades, we are confident that these advanced offerings will set new benchmarks and catalyse the next phase of progress in Sri Lanka’s growing mobility landscape.”

Ranjith Pandithage, Chairman, DIMO, said, “For over 65 years, DIMO has proudly represented Tata Motors in Sri Lanka, introducing advanced commercial vehicles that continue to set new benchmarks in performance and reliability. This latest range embodies the future of transport — blending world-class engineering with solutions designed for our market’s evolving needs. Underpinned by DIMO’s unmatched after-sales expertise we ensure every vehicle delivers sustained performance and value throughout its lifecycle. Together with Tata Motors, we remain committed to driving sustainable growth and shaping a high-performance mobility ecosystem for the country.”

Cargo Solutions

Intra-city logistics: The Ultra series of trucks (T.7, T.9, T.12, T.14, and 1918.T) are built on Tata Motors’ next-gen smart truck platform, offering high fuel efficiency and enhanced manoeuvrability for last-mile delivery and city logistics.

Long-haul transport: The Prima 5530.S and Signa 5530.S prime movers are designed for heavy-duty and long-haul operations. These models are equipped with advanced technology to improve fuel efficiency and safety, making them suitable for demanding infrastructure projects.

Passenger Solutions

Inter-city travel: The LPO 1622 Magna bus is engineered for long-distance journeys with enhanced passenger comfort, featuring advanced safety technologies like Electronic Stability Control and air suspension for a smooth ride.

Staff transport: The Ultra Prime LPO 8.6 and LPO 11.6 buses provide cost-effective and fuel-efficient solutions for employee mobility, with ergonomic seating for 34 and 40 passengers, respectively.

To support the new fleet, DIMO is providing comprehensive, customer-centric services, including: 15 strategically located service centres for maintenance and genuine spare parts. Extended warranty on selected models, offering coverage for up to 3 years or 300,000 km. Customised Annual Maintenance Contracts (AMC) to ensure optimal vehicle performance.

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Montra Electric, part of the Murugappa Group, has inaugurated its new electric small commercial vehicle and electric three-wheeler dealerships in Raipur, which will be operated by Ralas Wheels.

These outlets will retail Montra Electric’s flagship EViator four-wheeler e-SCV and the Super Auto and Super Cargo e-three-wheeler portfolio.

The company stated that with Raipur’s rapidly growing logistics and demand for high-performance electric commercial vehicles, the dealerships will offer a fully equipped service facility along with comprehensive maintenance and after-sales care.

The inauguration was led by Arun Murugappan, Chairman, TI Clean Mobility (Montra Electric),  Meenal Choubey, Mayor of Raipur, Jalaj Gupta, Managing Director, TI Clean Mobility, Saju Nair, CEO, Tivolt Electric Vehicles, Mohit Singhania, Managing Director, Ralas Wheels and Himanshu Aggarwal, Head Sales & Service, Montra Electric Last-Mile in the presence of customers and other stakeholders.

Jalaj Gupta, said, “The opening of both our both e-SCV and e-3W dealerships in Raipur reflects our commitment to creating a strong and inclusive EV ecosystem across India. With our EViator, Super Auto, and Super Cargo, we are offering reliable, high-performance products that address both logistics and passenger mobility needs. These dealerships strengthen our promise of advanced products, dependable service, and long-term value creation for customers in Chhattisgarh.”

Mohit Singhania, shared, “We are delighted to partner with Montra Electric to bring both the e-SCV and 3W range to Raipur. The city is witnessing rising demand for sustainable logistics and passenger mobility, and we see immense potential for Montra Electric’s products here. Our dealerships are fully equipped to deliver a seamless sales and service experience, ensuring that customers enjoy the benefits of electric mobility with complete confidence.”

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The second season of the MASSEY DYNASTAR CONTEST, organised by TAFE - Tractors and Farm Equipment Limited, one of the world’s largest tractor manufacturers and the maker of the legendary Massey Ferguson Tractors in India, was a resounding success, attracting a remarkable 16,000-plus entries from across India's 26 states and five union territories. This overwhelming response showcased the vibrant diversity of the nation's agricultural sector, with participants ranging from farmers and rural entrepreneurs to agri-students. Twelve finalists from seven states were selected to present their ideas at the Grand Finale.

A prestigious jury evaluated entries on strict criteria including innovation, feasibility and societal impact. The grand prize was awarded to Avinash Desai from Karnataka for his mobile slurry dewatering machine, winning him a brand-new MF 254 DYNASMART 2WD tractor, worth approximately INR 820,000. Prateek Agarwal from Assam secured the second prize with an 8-gm gold coin for his concept of a solar-powered energy hub, while Amrit Jot Singh from Punjab received the third prize, also an 8-gm gold coin, for his water purification unit idea.

The Jury’s Choice Award honoured Dr. Jayakumar Karuppusamy from Assam with a 50-gm silver coin for his multipurpose farm machine. In the institutional category, teams from Tamil Nadu Agricultural University and Bannari Amman Institute of Technology won for their tractor-mounted transplanter ideas, with students receiving internship opportunities.

This initiative embodies TAFE's vision of cultivating the world through meaningful engagement. Following this success, TAFE has announced the contest's return for a third season, reaffirming its commitment to empowering rural innovators.

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