Mahindra and Volkswagen tie up for electrification in Indian car market – –

Mahindra and Volkswagen tie up for electrification in Indian car market – –

Volkswagen Group and Mahindra & Mahindra Ltd. (M&M) have announced their intention to expand their partnership. The two companies have signed a term paper on the supply of MEB electric components for Mahindra’s new INGLO electric platform, cementing the cooperation agreement from the beginning of 2022. The cooperation aims to have a volume of one million units in the service life and includes the installation of five all-electric SUVs and MEB components. In addition, the two companies will explore new opportunities for collaboration, opening the prospect of a broader strategic alliance to accelerate electrification in the Indian automotive market.

Mahindra unveiled its new family of electric SUVs in mid-August 2022 at the Mahindra Born EV vision launch event in Banbury, UK. The electric SUVs will be launched on the new INGLO platform architecture and are expected to feature MEB components including the electric drive, battery system and Volkswagen unit cell. The term sheet covers all the main business and technical terms as well as the possible location method of the battery system. A final supply agreement will be negotiated in a sustainable, constructive and legal manner by the end of 2022.

Regarding the next step towards a possible strategic alliance for India, the two companies agree to explore other possible areas of cooperation in the field of e-mobility, including vehicle projects, localization of battery cell manufacturing and charging and power solutions for the system of electricity ecology in the country. India.

Thomas Schmall, Volkswagen Group Board Member for Technology and CEO of Volkswagen Group Components, said: “We are happy to identify a wide field of cooperation between our two companies. Together, Volkswagen and Mahindra can make a significant contribution to India’s electrification, a large automotive market and ambitious climate protection commitments. The MEB electric platform and its components are essential for sustainable affordable mobility around the world. This partnership not only demonstrates that our platform business is highly competitive, but also that MEB is on track to become one of the leading open online mobility platforms. We therefore recognize the objective of our Volkswagen NEW AUTO strategy to make the platform business a strong pillar of our group and unlock future profitable groups through economies of scale. »

Commenting on the announcement, Rajesh Jejurikar, Executive Director, Automotive & Agriculture Sector, Mahindra & Mahindra Ltd. “The signing of the technical and commercial status paper is an important step forward in our partnership with Volkswagen. Our purpose-built INGLO platform offers unprecedented possibilities for further growth and customization for the development of new and innovative products not only for India but for global markets. Our vision is to lead the e-mobility revolution in India by offering true electric SUVs with cutting-edge technology as seen in the UK today. We are very happy to explore other areas of possible collaboration with Volkswagen and we are confident that together we will be able to create an exciting future of electricity. »

With about three million new cars per year, India is one of the world’s five largest car markets and, along with China, the only region to record an increase in new registrations in the first half of 2022. Passenger car electrification. The segment is expected to grow significantly in the coming years.

Photo: Volkswagen