Mahindra India's most valuable carmaker: Anand Mahindra reacts

Mahindra has emerged as the India's most valuable carmaker and the 11th most valuable car manufacturer in the world. The carmaker, which is known for its SUVs like Scorpio-N, Thar Roxx, XUV700 among others, has emerged on top by beating India's largest carmaker Maruti Suzuki and Tata Motors in the race to be among world's most valuable carmakers. Anand Mahindra, Chairman of the Mahindra Group, reacted to this remarkable achievement by expressing his gratitude to brands which helped the carmaker to grow over the years.

Mahindra has beaten popular global brands like Ford Motor, Hyundai Motor and Kia to become the 11th most valuable carmaker in the world, according to Companies Market Cap. Only Mahindra, Maruti and Tata are among the Indian carmakers to make it to the list of 50 most valuable carmakers in the world. The list is compiled based on metrics like market cap, market value, revenue and more. Mahindra is valued at $43.2 billion (roughly converted to ₹36.68 thousand crore).

Reacting to the achievement, Anand Mahindra said that all previous global carmakers Mahindra has been associated with have helped it become one of the most valuable carmakers. Mahindra took to social media platform X, formerly Twitter, and wrote, “In 1991, when the Indian economy opened up, the world believed there were scant chances of our survival as an independent automaker. We sought out Stellantis (Peugeot—for engine knowhow) Ford and Renault for knowledge on how to build modern cars. And we are grateful for their partnerships. So I have to admit to a tinge of gratification at seeing this ranking."

Mahindra is currently India's fourth largest carmaker and is placed behind the likes of Maruti Suzuki, Hyundai Motor and Tata Motors. The carmaker leads the SUV segment with highest market share. Besides the Scorpio-N, Thar Roxx and XUV700, Mahindra also sells SUVs like the Thar, XUV 3XO, Bolero.

Also watch: First impressions of the Mahindra BE 6 electric SUV

Mahindra is also gearing up to grab market share in the electric vehicle segment in which its rival Tata Motors has excelled. Mahindra has recently launched the XEV 9e and BE 6 electric SUVs. Mahindra also sells XUV400 EV, its first electric car, in India.

Check out Upcoming Cars in India 2024, Best SUVs in India.