M&M became the 11th largest car manufacturer in the world, said Anand Mahindra

On Tuesday, Mahindra Group Chairman Anand Mahindra said that when India started as an independent automaker, the world believed that it was very unlikely to succeed. He expressed this view at a time when automaker Mahindra & Mahindra achieved a remarkable feat by becoming the 11th largest automaker in the world by market capitalization, reaching US$ 43.12 billion.

M&M has been included in the global ranking of the most valuable car manufacturers released by the social media platform World of Statistics. Speaking on this achievement, Anand Mahindra recalled the challenges faced by India's automobile industry in the early years. He said, "When the Indian economy opened up in 1991, the world felt that our chances of survival as an independent automaker were very low."

Mahindra further underscored the partnerships laid with international companies such as Stellantis, earlier known as Peugeot, especially with regard to engine experience, and Ford and Renault in the production of modern cars. Looking at these partnerships, Mahindra expressed gratitude and revealed that they have helped them earn knowledge and a strong foundation in the car sector.

Its rankings starting with Tesla at a valuation of USD 1.23 trillion outpaces them in market capitalization by large margins, followed by Toyota with USD 233.26 billion and BYD taking the third position with a total worth of USD 107.52 billion. Indian automakers emerge only after placing Maruti Suzuki India in 13th rank to lead the rest, clocking a market capitalization of USD 41.81 billion. We will continue to put in our best to make India proud," Anand Mahindra said, filled with commitment and pride. It was a proud moment, not just for the company alone but for showcasing the strength of the automotive industry of India at large on the global platform.