Mahindra & Mahindra Breaks Record with 674 Patents in FY24

Key Highlights:
•    M&M secures 674 patents in FY24, a notable increase from FY23.
•    The total number of patents received across geographies reached 1185, with 193 applications pending.
•    The patent portfolio includes innovations in powertrain, electronics, and manufacturing processes.
•    Investment focuses on innovation, customer experience, and safety.
•    CEO Rajesh Jejurikar underscores commitment to staying ahead in technology and talent.

In the fiscal year 2024, Mahindra & Mahindra, the leading name in automobiles and agricultural equipment within the Mahindra Group, has set a benchmark by receiving 674 patents. 

This achievement sets them apart as the Indian leader in innovation for four-wheeled vehicles and farming machinery, showcases their commitment to pushing boundaries and introducing new ideas to the industry. The number of patents issued to M&M increased by 380% over FY23, as per the press statement.

The company has filed a total of 2212 patent applications. So far, it has been granted 1185 patents across several locations, with 193 applications awaiting patent approval as of March 31, 2024. 

The patent portfolio also includes fillings by M&M's subsidiary, Mahindra Electric Automobile Ltd. In addition to patents, it has 115 designs registered and 178 new applications filed.

As per the senior officials, the company is constantly working to push the boundaries of what is possible in the automobile and farm equipment segments. The firm recognizes the value of being future-ready, therefore they have made major R&D expenditures to guarantee that company remain ahead of the curve in terms of technology and personnel.

M&M's patent portfolio includes a variety of important functions, including powertrain (ICE and EV), vehicle mechanical systems, electronics, manufacturing processes, electric tractors, and advanced engineering, among others.

Focus on Innovation and Safety

Investments have been made in safety, customer experience, and innovation. This includes active advanced driver assistance systems, safety systems, lightweight technologies, advanced automotive electronics, enhanced vehicle dynamics, smart connected implements, connected vehicle technologies, smart combine harvesters, high-precision hydraulics, and hill farming, among others.

Also Read: Mahindra Sales Report April 2024: Experienced Growth in both Domestic and Export CV Sales

CMV360 Says

M&M's patent success highlights its commitment to innovation and staying at the forefront of automotive and farm equipment technology. With an increased number of patents and diverse innovations spanning crucial sectors, M&M solidifies its position as a leader in the Indian market. 

The investment in R&D reflects the company's dedication to enhancing customer experience and ensuring safety while driving future-ready solutions.