In the late 1990s, as India's automotive landscape began to stir with economic liberalisation, two global powerhouses joined hands. Valvoline, the world's first trademarked engine oil with roots dating back to 1866, and Cummins, a leader in diesel engines, formed a 50:50 joint venture in 1998.
Valvoline Cummins Private Limited was born, quietly setting up operations to supply high-quality lubricants to the Indian market.
The company built its foundation carefully, and by the mid-2020s, revenue had crossed Rs 2,300 crore, with a high single-digit market share and clear ambitions for double digits. Heavy-duty oils endorsed by Cummins, fuel-efficient two-wheeler formulations, and a push into synthetics helped it stay relevant as India's vehicle parc grew.
What sets the next chapter apart for Valvoline is the bridge between the racetrack and the Indian road. Valvoline's partnership with Mahindra Racing in Formula E has become more than sponsorship. Data gathered under extreme heat, electrical loads and high mechanical stress on the Formula E circuit feeds directly into fluid engineering.
Those learnings are adapted for Mahindra's road vehicles and for the wider Indian commercial and passenger fleet. Managing Director Sandeep Kalia has described the collaboration as connecting global racing technology with deep local roots, turning track-proven performance into practical advantages for everyday Indian conditions.
"The partnership with Mahindra is not for supplying fluids alone, nor is it only to create EV fluids. It is about making better vehicles, with the two entities working together to develop those fluids. We have tailor-made the transmission fluids for the Mahindra cars racing in the E-Prix, and the proof from the labs has translated to the circuits," Kalia said in an interview with NDTV Profit on the sidelines of the E-Prix season finale in London on Sunday.
"From March 2026, these fluids have been in the vehicles, and Mahindra is now getting podium finishes, both in Monaco and Tokyo. This is the ultimate proof that our fluids can withstand intense heat."
The same partnership also strengthens commercial ties. Valvoline supplies a large share of Mahindra's aftermarket lubricants under the Maximile brand, covering engine, transmission and axle oils across passenger vehicles, SUVs and pickups. Sustainability elements, including recycled packaging, are part of the expanded agreement.
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Kalia also spoke about carrying the fluid technology developed for racing cars into vehicles on Indian roads, for the benefit of the average motorist.
The margin picture remains unclear, as the company will need to invest to build out its EV business, but Kalia sounded confident that the investment would pay off in the years to come, just as Valvoline's entry into the EV segment made sense two decades ago, long before EVs became mainstream.
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