Mahindra, Rafael Advance Defence Systems enter joint venture

Mahindra and Mahindra and Rafael Advanced Defence Systems, manufacturer of hi-tech defence air, land, sea systems and space applications, have signed a Memorandum of Understanding which will lead to the formation of a joint venture company in India.

Rafael Advance Defense Systems products include anti torpedo systems, electronic warfare systems, advanced armouring solutions and remotely operated weapon stations for futuristic infantry combat vehicles.

Rafael will make investments in Mahindra’s Naval Systems division in Pune which will also be the location of a production facility that will be set up to meet the long-term requirements of the joint venture company.

Speaking on the occasion, Anand Mahindra, Vice Chairman & Managing Director, Mahindra & Mahindra said, “Our joint venture with Rafael signals our strategic entry into a wide range of hi-tech defence solutions which will enable the Mahindra group to become a leading defence systems integrator in India.”

KA Hai, Chief Executive, Mahindra Defence Systems, said, “This JV will enable Mahindra Defence Systems to further leverage its innovative solutions in the maritime domain, enhance its product offerings, and present it with new avenues for growth. We intend to further expand into air, land, and aerospace defence solutions.”

Ilan Biran, Chairman, Rafael said, “As part of our global strategy, we form alliances to develop military applications based on our proprietary technologies and in Mahindra we see a lot of synergy and opportunities for growth in new markets and especially in India which is a strategic market for us.”

Yadida Yaari, CEO, Rafael said, “We see Mahindra as an ideal partner for expanding our business opportunities in India in sea, land and air domains. We have supported and will continue to support the Indian Ministry of Defence in gaining technological superiority and excellence.”