Mahindra expands business foot print with Ideal Motors Sri Lanka

Mahindra & Mahindra Ltd., a part of the USD 17.8 billion Mahindra Group based in India, today announced that it is set to expand its business footprint in Sri Lanka. The company will set up three new businesses in the country together with its proud partners for over 7 years Ideal Motors. Mahindra along with Ideal Motor, is one of the top pick up brand of Sri Lanka, and it will bolster its position in the island nation with the establishment of 3 new businesses – namely Mahindra Truck & Bus, Mahindra Construction Equipment and Mahindra Powerol. The wide range of product offerings and network plan is scheduled to be revealed in the mega launch to be held on February 9, 2017. About Mahindra The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency. A USD 17.8 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries. In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world's largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times 'Boldness in Business' Award in the 'Emerging Markets' category in 2013. About Ideal Motors IDEAL Motors (Pvt) Ltd. is a fully owned subsidiary company of the IDEAL Group which has core business interests in Motor Franchise Imports and Motor Spare Parts in Sri Lanka. Since November 2009, IDEAL Motors has been the Sole Authorized Distributor for Mahindra Motor Vehicles and Motor Cycles manufactured by Mahindra & Mahindra Company Ltd. India.Ideal Motors sold over 50,000 vehicles in the country and today, Mahindra has emerged as the market leader in above one Tone category with over 50% market share, and maintaining 35% market share in below one Tone Category. Ideal Motors Sales Showrooms, Regional Repair centres and authorized service dealers are widespread with Spare part dealers have also been appointed in every city. This network is aimed at facilitating all Mahindra customers with the best possible service at all times. The Ideal Group is a diversified group with interests in Automobiles namely, Mahindra four wheelers & two wheeler, Chery Automobile, SsangYong, and with interests in automobile spare parts, finance, solar energy, tyres, Transport, logistics and Vehicle Hire. The group turnover of the Ideal Group is currently in excess of USD 150 million per annum.