EXCLUSIVE: Jalaj Gupta steps down; Venkat Srinivas is new head of Mahindra Trucks and Buses, and Construction Equipment businesses

Jalaj Gupta, the head of Business at Mahindra Trucks & Buses and Construction Equipment Business, has resigned. Autocar Professional learns that Venkat Srinivas, the vertical head of commercial vehicles (ICE and EV), will take over from Jalaj Gupta as the new head.

These changes will be effective November 1, 2024, with a transition from October 15, 2024. Mahindra & Mahindra's spokesperson confirmed the development.

Gupta has decided to pursue career opportunities outside of Mahindra Group.

Srinivas will report to Vinod Sahay, M&M's president and chief purchase officer and president of the Aerospace, Defence, MTB, and CE business.

Consequently, Venkat Srinivas' responsibility will be transferred to Manoj Varghese, currently the Group Chief Platform head of Electric Vehicles.

As the new Vertical head of Commercial vehicles, both ICE and EV, Varghese will report to R Velusamy, president of Automotive Technology and Product development.

Manoj Varghese's successor will be announced in due course.

In its internal circular, Mahindra & Mahindra noted that Venkat has significantly contributed to the CV Vertical at Automotive Technology & Product Development (ATPD) and the MTBD & CDMM functions.

In his current role, he successfully led product development for less-than-3.5 tonne Gross Vehicle Weight Commercial Vehicles for domestic and global markets. He led the development of Blazo, Furio, and Cruzio medium and heavy commercial vehicles in his previous role.

“The company acknowledged his leadership towards the ongoing development of the Urban Prosper Platform and the Global Pik Up. The team reporting to Jalaj will report to Dr. Venkat,” added an internal note.

As for Varghese, the management stated that he brings extensive experience in Platform Delivery and Product Development functions in Mahindra, Renault Nissan, and Tata Motors.

“He has previously launched the XUV 700 Program as Chief Platform Head and is currently leading the development of e8 and e9 programs in the EV vertical at ATPD. The team reporting to Dr. Venkat will report to Manoj,” stated the note.

The Trucks and Bus division of Mahindra & Mahindra, which has been under the scanner from the company’s capital allocation plan in the last few years, has become stronger recently.

M&M’s top management has stated that the company is committed to the future growth of its truck and bus business and is eyeing a much bigger volume and market share.

The trucks and bus division has reported profits and generates about Rs 3,500 crores of annual revenues for Mahindra & Mahindra. On the market share front, the company has garnered about 3% of the overall market; it has set its sights on an 8% share in the coming few years.