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Mahindra and Mahindra, the Indian automotive giant and BAE Systems of Britain, the global defence security and aerospace company, have inked an agreement to create a military vehicles-focused joint venture based in India.
Defence Land Systems India, the joint venture between the Indian major Mahindra & Mahindra and BAE Systems of Britain, have announced Deepak Chhibba as the Chief Executive Officer (CEO) and Arne Berglund as his deputy for the new firm.
Defence Land Systems India intends to become a centre of excellence in India that covers not just manufacturing but the development, testing and support of artillery. The joint venture is currently involved in the development of a mine-protected vehicle, specifically designed to meet the needs of the Indian armed and paramilitary forces. This brand new mine protected vehicle is currently named MPVI (Mine Protected Vehicle India). A prototype of MPVI has been produced and will eventually be manufactured at the joint venture facility in Faridabad, near Delhi, using indigenously produced materials.
Defence Land Systems India will also make a foray into future Indian artillery programmes, including the M777 light weight howitzer and the FH77B 155mm howitzers.
Senior Mahindra & Mahindra officials indicated that as a fully operational joint venture, Defence Land Systems India will bring real and lasting value to India’s growing defence industry. Existing projects include Rapid Intervention Vehicles, Axe high-mobility vehicles and the Marksman light armoured vehicle and the Joint Venture Company will focus on manufacturing land systems for security forces.
Guy Griffiths, group managing director (International) at BAE Systems, said that the joint venture aims to address the futuristic needs of the Indian armed forces, the development of innovative technologies and system integration skills, and benefits from the leadership of two world class companies. BAE firmly endorses the Indian government’s decision to procure 70 percent of defence equipment locally as the new joint venture will contribute significantly towards that goal. The initial investment of the parent company will be roughly $21.25 million over a three year period and the company’s equity split will be 74 per cent belonging to Mahindra & Mahindra and 26 per cent for BAE Systems.
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