Chandigarh: Punjab Cabinet Minister Sanjeev Arora announced that Mahindra & Mahindra, one of India’s leading multinational groups, has strengthened its presence in the State through the acquisition of a 58.96% stake in SML Isuzu Ltd. for approximately ₹555 crore from Japan-based Sumitomo Corporation and Isuzu Motors. Following the transaction, SML Isuzu has been renamed SML Mahindra Limited. The company is a prominent manufacturer of light and medium commercial vehicles, including trucks, buses, and special-purpose vehicles serving logistics, passenger transport, and institutional mobility segments.
Sanjeev Arora highlighted that SML Mahindra has already invested around ₹500 crore in its fully integrated manufacturing facility at Shaheed Bhagat Singh Nagar (Nawanshahr), Punjab. The facility includes vehicle assembly lines, a body shop, paint shop, press and machine shop, FRP shop, and a dedicated bus body plant. The company has further announced an expansion roadmap in Punjab with a ₹100 crore investment to modernize the existing plant and a proposed ₹400 crore investment through relocation of another manufacturing unit to the State.
The Minister emphasized that Punjab is rapidly emerging as one of India’s best investment destinations under the leadership of Chief Minister Bhagwant Mann and AAP National Convener Arvind Kejriwal. With investor-friendly governance, transparent policies, robust industrial infrastructure, and a skilled workforce, the State is attracting major industrial houses. Arora also noted the historical connection of Shri Anand Mahindra, Chairman of Mahindra Group, to Ludhiana, reinforcing Punjab’s legacy of entrepreneurship and industrial excellence.
