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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New Holland, a brand of CNH Group, has expanded its farm mechanisation portfolio in India with the launch of its new HD and XHD Series Rotary Tillers (Rotavators). The new range is manufactured at the company’s facility in Pune.

The equipment is designed for diverse soil types and agro-climatic zones, aiming to improve soil preparation, productivity, and field performance. A high swing diameter facilitates deeper tillage, improving seed-to-soil contact. The heavy-duty multi-speed gearbox allows farmers to adjust operations based on specific soil conditions, which the company states helps optimise fuel use and save time. The units incorporate Metal Twin-Faced (MTF) seals to protect the rotor hub from water ingress, and utilise DTM paint technology for corrosion resistance.

Tarun Khanna, Director Marketing (AG) India, New Holland, said, "Farm mechanisation is increasingly becoming a key driver of agricultural productivity and efficiency in India. As farmers look for equipment that can deliver superior performance, durability and operational efficiency, the demand for reliable mechanisation solutions continues to grow. The launch of our HD and XHD Series Rotary Tillers reinforces New Holland's commitment to supporting Indian farmers with advanced implements that are engineered for demanding field conditions and designed to enhance productivity."

Following the national unveiling at the company's Greater Noida facility, New Holland plans to introduce the range through a series of dealer-level launches across India. This release is part of the brand’s broader strategy to offer a comprehensive suite of agricultural implements to support modern farming practices.

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Chartered Speed is deploying nearly 3,000 electric buses across 18 cities in India as part of the Pradhan Mantri e-Bus Sewa & e-Drive Scheme. The company aims to enhance public transportation in Tier-II and Tier-III cities, with the full network projected to cover 200 million kilometres annually.

To support these operations, Chartered Speed has implemented a technology-led infrastructure, including a Command & Control Centre for fleet monitoring and structured training programmes for drivers.

The company has already commenced operations with 55 electric buses, including 25 nine-metre buses (27-seaters) and 30 seven-metre buses (22-seaters) in Shillong, Meghalaya. The launch was led by Chief Minister Conrad K. Sangma.

Furthermore, in Rajasthan, it is managing an order for 876 buses across the state, with initial operations started for 29 buses in Jaipur and 18 buses in Bhilwara, inaugurated by Chief Minister Bhajan Lal Sharma.

Sanyam Gandhi, Whole-Time Director, Chartered Speed, said, "The commencement of electric bus operations in Shillong, Jaipur and Bhilwara marks an important milestone in our larger vision of deploying 3,000 electric buses across 18 cities under the PM e-Bus Sewa & e-Drive Scheme. These deployments reflect the growing momentum of electric mobility adoption across India and reinforce our commitment to delivering reliable, efficient and environmentally responsible transportation solutions. Through continued partnerships with state governments and transport authorities, we aim to make public transit cleaner, more accessible and more efficient while contributing meaningfully to India’s clean mobility journey."

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Mumbai-headquartered commercial vehicle major Tata Motors has secured orders for more than 3,400 electric commercial vehicles (eCVs), covering freight, logistics and passenger mobility sectors. The orders include approximately 2,000 small commercial vehicles (SCVs) & pick-ups, 900 trucks and 500 buses.

The eCVs will be deployed across industries, including e-commerce, logistics, FMCG, FMCD distribution, intra-city transport, mining and inter-city passenger travel.

The company stated that electric mobility in commercial vehicles is shifting from early adoption to large-scale deployment in India, with usage expanding across segments and real-world applications.

Tata Motors stated that it is leading this transition with the widest portfolio of electric commercial vehicles, supported by an enabling ecosystem that ensures electrification is both practical and profitable. Beyond vehicles, the company is partnering closely with fleet owners and customers to optimise performance, uptime, charging and financing across the entire lifecycle. As adoption of electric commercial vehicles deepens, Tata Motors remains focused on delivering customised, end-to-end solutions that enable customers to transition confidently and seamlessly to zero-emission mobility.

Portfolio Expansion

Over the past 12 months, Tata Motors has expanded its eCV portfolio to include Ace Pro EV, Ace EV, and Intra EV for distribution in the Small Commercial Vehicles segment.

Ultra EV range (7-12T), Prima EV 55T tractor and Prima EV 28T tipper in the Intermediate and Heavy-Duty segment. For passenger mobility, it has introduced the Starbus EV and Ultra EV buses.

Till date, Tata Motors has over 3,800 electric buses in operation, which have covered a cumulative distance of more than 550 million kilometres. Additionally, there are over 17,000 Tata eSCVs on the road.

To support the adoption of these vehicles, the company has established a charging network through partnerships with over 14 charge point operators, alongside financing solutions, fleet management tools via Fleet Edge and uptime assurance programmes.

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Prawaas 5.0, India’s premier multimodal passenger mobility event, is scheduled to take place from 9–11 July 2026 at the Helipad Exhibition Centre (HEC) in Gandhinagar, Gujarat.

Guided by the central theme, ‘Towards Safe, Smart & Sustainable Public Transport,’ the flagship event will gather government authorities, fleet operators, original equipment manufacturers (OEMs), technology developers and investors to accelerate the adoption of integrated, efficient and environmentally responsible public transit systems.

The 5^th edition of the event is organised by the Bus and Car Operators Confederation of India (BOCI) and is hosted by the Akhil Gujarat Pravasi Vahan Sanchalak Mahamandal and co-hosted by both the Gujarat Luxury Cab Owners Association and the Gujarat Tourist Vehicles Operators Association. MM Activ Sci-Tech Communications serves as the event curator.

As India's transit sector undergoes a structural transformation driven by electrification, regulatory safety updates, and digital network integration, Prawaas 5.0 aims to serve as a catalyst for fostering dialogue between state transport undertakings, central policymakers and private fleet operators.

The event will also showcase intelligent transport systems (ITS), digital ticketing frameworks, AI-driven fleet telematics and clean-energy mobility solutions.

It provides an on-ground platform for new vehicle product launches, strategic business matchmaking and infrastructure investment.

Building upon its previous editions, the three-day convention is projected to secure comprehensive representation from all 36 Indian States and Union Territories. The last edition attracted over 15,000 industry professionals, more than 10,000 bus & car operators and featured over 300 leading mobility companies.  The event was attended by more than 1,500 delegates, supported by over 60 expert speakers across technical panels and industry conferences.

The large-scale exhibition will serve as an interactive arena for stakeholders across the commercial mobility value chain to address current operating challenges, such as unit economics and infrastructure constraints, while establishing partnerships to modernise India's passenger transport network.

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