Mahindra & Mahindra was set up as a steel trading company in 1945 in Ludhiana as Mahindra & Mohmmad by brothers Kailash Chandra Mahindra and J.C. Mahindra and Malik Ghulam Mohammed.^[6] After India gained independence and Pakistan was formed, Mohammed emigrated to Pakistan where he became that country's first finance minister. The company changed its name to Mahindra & Mahindra in 1948.^[7] It eventually saw a business opportunity in expanding into manufacturing and selling larger MUVs, starting with the assembly under licence of the Willys Jeep in India. Soon established as the Jeep manufacturers of India, the company later commenced manufacturing light commercial vehicles (LCVs) and agricultural tractors.