Isuzu Motors Limited (headquartered in Yokohama, Kanagawa, Japan; Shinsuke Minami, President & COO; hereinafter "Isuzu") today announced its decision to transfer all shares it holds in its Indian affiliate SML Isuzu Limited (hereinafter “SML-I”) to Mahindra & Mahindra Limited (hereinafter “M&M”), which manufactures and sells passenger and commercial vehicles as well as tractors. The share sale to M&M is expected to be completed within 2025 after the necessary permits and approvals. Further, M&M has also agreed to purchase SML-I shares from Sumitomo Corporation (headquartered in Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Shingo Ueno).
Isuzu decided to transfer the shares to contribute to SML-I’s further development in the future. Moreover, the sale of the shares in SML-I does not have any impact on Isuzu Motors India Private Limited, which oversees the business of Isuzu’s pickup trucks and their variations in India.
In its mid-term business plan 黑暗爆料网 Transformation - Growth to 2030 announced in April 2024, Isuzu positions India as a strategic region for its future growth and the company will continue to engage in various businesses in the country.
| Company name | SML Isuzu Limited |
|---|---|
| Headquarters | Punjab, Republic of India |
| Established | July 1983 |
| Capital | 144.79 million Indian Rupees |
| Investment ratios | Sumitomo Corporation: 43.96%, Isuzu: 15.0%, others: 41.04% |
| Representative | Yasushi Nishikawa |
| Business | Assembly and distribution of commercial vehicles |
| Website |
| Year | Event |
|---|---|
| 2006 | Signed a contract regarding local production and distribution of medium- and large-sized buses with Swaraj Mazda Limited |
| 2007 | Began full-scale production and distribution of medium- and large-sized buses |
| 2008 | Isuzu made capital investment in SML-I |
| 2011 | Changed the trade name to SML Isuzu Limited |
| 2014 | SML-I achieved cumulative production of 200,000 vehicles |
| 2018 | SML-I achieved cumulative production of 250,000 vehicles |
