Anand Mahindra and Family

Mahindra spent decades being seen as rugged and dependable. The electric SUV changed that perception faster than any advertising could.

Mahindra and Mahindra was built on utility vehicles and tractors designed for demanding rural conditions, and for much of its history the company's reputation was for durability over refinement. Anand Mahindra, who joined the group in 1981 and has led it since 1997, has spent the intervening decades extending a conglomerate that now spans IT services through Tech Mahindra, hospitality through Club Mahindra and financial services, while keeping the core automotive and farm equipment businesses competitive against domestic and international rivals.

The more recent transformation has been in the core automotive product itself. Mahindra's electric SUVs have gained market share against established competitors and changed the perception of a brand historically associated with rugged but unsophisticated engineering. The farm equipment business, which makes Mahindra the largest tractor manufacturer in the world by volume, has remained consistently strong through this period, providing the cash flow stability that underwrites investment in the automotive transformation.