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Mahindra & Mahindra Bag 674 Patents In FY 2024: Innovation Prowess
Mahindra & Mahindra (M&M) recently launched the XUV 3X0, a facelifted iteration of the XUV300. With pricing set at Rs 7.49 lakh (ex-showroom) for the entry-level MX1 and climbing to Rs 15.49 lakh (ex-showroom) for the high-end AX7L equipped with a petrol engine and automatic transmission.
Alongside this significant launch, M&M has achieved a significant milestone by securing 674 patents in the fiscal year 2024, demonstrating its leadership in innovation within the industry. This achievement showcases a drastic 380% increase in patents granted to M&M compared to the previous year.
By the end of March 2024, M&M's commitment to research and development has resulted in a total of 1185 patents across various regions, with an additional 193 patent applications pending approval.
The company's subsidiary, Mahindra Electric Automobile Ltd., has also played a crucial role in this success, contributing to the cumulative filing of 2212 patent applications. This effort is further complemented by M&M's focus on design, with 115 designs already registered and 178 more in the application phase.
Rajesh Jejurikar, ED & CEO [Auto & Farm Sectors] at M&M, highlighted the company's dedication to advancing the automobile and farm equipment sectors. "Our relentless pursuit of advanced technologies has enabled us to create the safest and most advanced products and positioned us as a true innovator in the industry. We understand the importance of being future-ready; therefore, we have made significant R&D investments to ensure that we stay ahead of the curve in terms of technology and talent."
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This impressive number of patents and the launch of the XUV 3X0 underline M&M's commitment to innovation and its continuous efforts to lead the industry by example. With a broad portfolio of intellectual property and a clear focus on the future, Mahindra & Mahindra is set to maintain its leadership position in the evolving automotive landscape.
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