SML ISUZU, earlier known as Swaraj Mazda, incorporated in 1983 as Swaraj Vehicles, is engaged in manufacturing of vehicles for goods and passenger applications. In 1984 the company entered in a joint venture with Punjab Tractors, Mazda Motor Corporation and Sumitomo Corporation, Japan for the manufacture of light commercial vehicles (LCVs). Thus the name of the company was changed to Swaraj Mazda.
Swaraj Mazda manufactures a range of vehicles such as trucks, buses and ambulances. The company has launched products like 4WD, Samrat, Sartaj, Dual Cab, Supreme-8 tonner, Truck- Super 12, Super ALFD and many more.
1983- Swaraj Vehicles was incorporated in July of that year.
1984- The company entered in a joint venture with Punjab Tractors, Mazda Motor Corporation, Japan & Sumitomo Corporation, Japan. SVL was renamed as Swaraj Mazda.
1985- The company established a project with a capacity of 5000 LCVs at capital investment of Rs 20 crore. The company commenced trail production and test marketing of Swaraj Mazda Truck WT-48, WT-49 and WT-50 LCVs. The company also developed a vendor base as per PMP approved by the Government of India.
1986- The company commences commercial operations.
1987- SML introduced indigenously developed bus.
1989- It set up an in-house tooling for local production of chassis long member.
1990- It launched its second truck model (Swaraj Mazda Super).
1991- Transmission components indigenised.
1992- The company started supply of trucks to the defence ministry. It supplied 500 vehicles to the defence sector.
1993- The company launched its third truck model (Swaraj Mazda Premium).
1994- SML was declared a sick company under SICA (due to rupee devaluation of 1991-93).
1995- BIFR approves rehabilitation scheme.
1996- The company developed a 4-wheel drive truck.
1998- The company completes wipe off of accumulated losses.
2000- SML extended technical assistance agreement up to October 2004.
2001- The company’s cumulative sales crossed 50,000 vehicles. In March SWL launched a 4-wheel drive ambulance. In August company launched an economy truck ‘Sartaj'. The company launched a CNG Bus for NCR Delhi in October.
2002- The company’s profit before tax for FY 2002 crosses Rs 100 million mark.
2003- Profit before tax for FY-2003 grows 115% to Rs 225 million.
2004- SWL’s profit before tax for FY-2004 grows 44% to Rs. 324 million.
2005- The company’s cumulative sales crossed 86,000 vehicles. In June, Punjab Tractors sold off its 15% of equity stake in favour of Sumitomo Corporation, Japan. In August, Mazda Motor Corporation sold off its 15% of equity holding in favour of Sumitomo Corporation, Japan
2006- The company received approval from government for new manufacturing facilities at existing site in January. The company entered technical assistance agreement with Isuzu Motors. In August company started construction of buildings for vehicle expansion and new bus body plant.
2007- The company conducted trial production of Isuzu bus LT134 in July.
2008- The company launched ultra luxury buses in July
2009- Sumitomo raised its stake in the company to 53.5% by purchasing the entire equity stake of Punjab Tractors in the company.
2011- Swaraj Mazda renamed as SML ISUZU LIMITED