“We are looking at considerable growth in our ICE portfolio and are very excited and gearing up for the launch of our Born Electric SUVs, starting next calendar year… Our workmen and associates go through a reskilling capability program every year, towards the new technologies, including EV,” Shah told ET in an exclusive interaction. Edited excerpts:
How are you ensuring a fair transition in your auto business considering your portfolio shift to EVs over the next few years?We are looking at considerable growth in our ICE portfolio and are very excited and gearing up for the launch of our Born Electric SUVs, starting next calendar year.In our automotive division, job capability building programs are geared up for both officers and our workmen and associates. Our officers are moved across different streams of products between ICE and EV and we have a common centre of excellence in technology for all products. A significant number of engineers were reskilled for EVs from the existing pool of ICE engineers (battery tech, vehicle electronics, ‘Born Electric’ platform). Our workmen and associates go through a reskilling capability program every year, towards the new technologies, including EV. These include EV architecture and technology, battery handling, HV safety, amongst many others.
What about your non-auto businesses such as real estate, Mahindra Holidays, Mahindra Finance, tech, renewables, etc – is there a “just transition” element in these businesses considering that many of them are modernising?
We are taking initiatives to build skills across sectors – including solar photovoltaic (PV) skills, regenerative agriculture, and EVs.
For instance, Mahindra Susten runs Susten Skills Development Centre, which has trained over 4,500 technicians in full trade skills and more than 10,000 people in semi-skilled trades. The Centre also equips workers in remote, socio-economically disadvantaged communities by offering them physical training sessions with practical assignments, case studies and lectures.Mahindra Last Mile Mobility in collaboration with Mahindra Logistics (MLL) trains women to drive EVs; MLL will provide employment in ‘e-Del,’ which is the latter’s last-mile electric cargo delivery service.Mahindra Group, in partnership with the Ministry of Skill Development & Entrepreneurship, has launched a skilling programme under the PM Drone Sakhi Yojana. We will train women to take up jobs that involve the use of drones – such as drone-based spraying, which is an enabler of sustainable agriculture.
We have empowered 1 million youth and over half-a-million women in transferable skills preparing them for the rapidly changing job market. Our program, which started as a youth skilling initiative, has pivoted to an all-women program in 2021 and to date, we have skilled 765,107 women. Through this programme, we skilled up 228,540 women in FY24.
Will there be an impact on existing jobs due to transition into newer areas and keeping in mind the need for new skill sets?
With consistent growth in ICE and now with the upcoming EV portfolio, we are always looking at skilling / reskilling our workforce. We are expanding skill sets in our EV portfolio, across the workforce, including Manufacturing, Sales, Customer Care and Product Development (e.g. – advanced engineering, robotics, battery technology, and mechatronics, amongst others). As a result, we are seeing more jobs getting created than before.
Do you see some job roles becoming redundant and certain others coming into prominence? How will it impact the workforce? Are you working on any plans to reskill/equip the existing workforce?
Technology is changing quite rapidly. But therein lies an opportunity to explore newer career possibilities. Working professionals must find time to upskill themselves at every turn of their career.
At a corporate India level, at what levels do you see “just transition” happening in terms of workforce? Which sectors are leading the change?
Large Indian business groups are working out plans to transition their employees to newer ways of working. From an ESG point of view, these are early days even for global companies to ensure a ‘just transition’ of their workforce. But I know for a fact that companies are taking this very seriously and charting out plans to take their workforce along – so that no one is left behind in our race to become more equitable and sustainable.
Recent reports suggest that Mahindra is exploring new business areas? Have you identified any specific business area?
We are still looking at multiple areas. Our bar is very high. We will get into an area which generates greater returns and adds value for Mahindra. No reason to jump into it. Our existing businesses have huge potential for growth.
Is there a timeline for the launch of IPOs for some of your businesses?
We have seen value creation when PEs invest in a business. From Mahindra’s standpoint an IPO doesn’t matter to us right now. Maybe, from a market standpoint it’s a good thing. The IPO will be a stepping stone along the way. For Mahindra, it’s building businesses of the future.
