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The Indian automotive major Mahindra & Mahindra (M&M) rose to prominence to occupy an important position in the automotive value chain spectrum spanning two-wheelers at one end and small turbo aircraft at the other with three-wheelers, utility vehicles, tractors, trucks and boats spaced in between. M&M’s journey began in the mid-1900s with the assembly of Willy Jeeps and later on becoming the first tractor producer in India. The group traversed through 66 years of existence to become a $12.5 billion Indian multinational company employing over 119,900 people in about 100 countries. M&M believed in a federated structure which enabled the 18 key business and 110 subsidiaries to chart their own course to leverage synergies across the group’s core competencies. Since 2005-06, the group had embarked on a brisk expansion spree of its portfolio, stretching itself too thin to become the only Indian automobile company to span across the entire spectrum of the automotive value chain. Analysts raised concerns over M&M’s bandwidth to handle the expansion and financial resources to fund the wide portfolio as well as compete with more financially strong world auto majors like Toyota, Volkswagen, Renault-Nissan, and Honda. Brushing aside the concerns, M&M was determined to go ahead with its ambitious plans to ride the automotive value chain and announced new brand positioning–Rise, and a new core purpose.