Mahindra & Volkswagen Expand Collaboration To Speed Up Indian EV Sector

Highlights :

  • Volkswagen Group and Mahindra sign term sheet on supply of MEB electric components for Mahindra’s new electric SUV family
  • Both companies will explore further potential opportunities for collaboration in India in the field of e-mobility, including vehicle projects, charging and energy solutions and cell manufacturing
  • Volkswagen is well on track to unlock the full potential of its platform business as part of the new auto strategy
Mahindra & Volkswagen Expand Collaboration To Speed Up Indian EV Sector

The Volkswagen Group and Mahindra & Mahindra Ltd (M&M) recently declared that they will be furthering their collaboration. Earlier this year, the two companies signed a term contract for the delivery of MEB electric components for Mahindra’s new, specifically designed electric platform, INGLO. Five all-electric SUVs with MEB components are included in the cooperation, which has a lifetime volume goal of more than one million units. Additionally, the two businesses will look into additional possibilities for cooperation, opening the door to a larger strategic alliance to hasten the electrification of the Indian automotive market.

At the Mahindra Born EV vision presentation event in Banbury, United Kingdom, Mahindra displayed their new electric SUV family. The MEB components, which include the electric drivetrain, the battery system, and the battery cells, are anticipated to be installed in the electric SUVs when they are introduced on the brand new INGLO platform architecture. The term sheet includes a route toward prospective localization of the battery system as well as all significant commercial and technical terms. By the end of 2022, the final supply agreement will have undergone productive and legal negotiations.

As per the official reports, both the companies will further look for other avenues of collaboration including potential areas of e-mobility collaboration, including vehicle projects, the localization of battery cell manufacturing and charging, and energy solutions for the electric ecosystem in India, as the next step toward a potential strategic alliance for India.

“We are pleased that we have discovered a greater area of collaboration between our two organizations,” said Thomas Schmall, member of the Volkswagen Group Board of Management responsible for Technology and CEO of Volkswagen Group Components. Together, Volkswagen and Mahindra can make a substantial impact on India’s electrification, a sizable auto market with aspirational climate protection goals. The MEB Electric Platform and its parts are essential for accessible, environmentally friendly transportation all around the world.

As per the officials from Volkswagen, “This collaboration shows not only how fiercely competitive our platform industry is, but also how well-positioned the MEB is to become one of the top open platforms for e-mobility. By doing this, we are fulfilling the goal of the Volkswagen Group’s new auto strategy, which is to make organization business a solid foundation for our organization and to open up new profit margins through economies of scale.”

Rajesh Jejurikar, Executive Director, Mahindra & Mahindra Ltd, Auto and Farm Sectors, commented on the news, saying, “The signing of the techno-commercial term sheet represents a significant step forward in our cooperation with Volkswagen. Our specifically designed INGLO platform offers unrivaled possibilities for expansion and additional customization for creating fresh, cutting-edge products not just for Indian markets but also for international markets. Our goal is to introduce genuine electric SUVs equipped with cutting-edge technology, similar to those on display in the UK right now, and to pioneer the electric mobility revolution in India. We are excited to continue discussing new areas of cooperation with Volkswagen and are certain that by working together, we can create an exciting future for electric vehicles.”

India, one of the top five global auto markets, registers almost three million new cars annually. Along with China, it is the only area that had a rise in new registrations in the first half of 2022. In the upcoming years, it is anticipated that the electrification of the passenger automobile industry would pick up significantly.

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