VW & Mahindra Ink Electric Mobility Supply Pact
By Rediff Money Desk, NEWDELHI Feb 16, 2024 12:18
Volkswagen Group and Mahindra & Mahindra announce their first supply agreement for electric vehicle components, deepening their collaboration for e-mobility in India.
![VW & Mahindra Ink Electric Mobility Supply Pact](https://im.rediff.com/money/2017/may/24mahindra-electric1.jpg)
New Delhi, Feb 16 (PTI) German automotive major Volkswagen Group and Mahindra & Mahindra Ltd on Friday announced their first supply agreement for electric vehicle components under their joint vision for electric mobility collaboration.
Under the agreement, Mahindra will become the first external partner to use Volkswagen's "groundbreaking unified cell concept", the core element of its battery strategy, the two companies said in a joint statement.
The Indian firm will receive components of Volkswagen's MEB (platform) for its purpose-built electric platform INGLO, on which M&M plans to launch five all-electric SUVs in India starting December 2024.
"The supply agreement will run over several years and will have a total volume of about 50 GWh over a lifetime," the statement said.
With the agreement, Volkswagen and Mahindra are further deepening their collaboration which started with a partnering agreement and a term sheet in 2022, they said.
Both companies will continue to evaluate a potential expansion of the collaboration. Volkswagen's MEB platform and its components are used by the group brands Volkswagen, Audi, Å koda, and SEAT/CUPRA as well as external partners like Ford and Mahindra.
"The partnership with Mahindra is led by Volkswagen Group Technology and its "Platform Business" unit in close cooperation with Å koda Auto Volkswagen India Pvt. Ltd," the statement said.
Volkswagen Group and Mahindra said they aimed to strengthen their e-mobility footprint in the Indian automotive market and to accelerate electrification in the region.
Under the agreement, Mahindra will become the first external partner to use Volkswagen's "groundbreaking unified cell concept", the core element of its battery strategy, the two companies said in a joint statement.
The Indian firm will receive components of Volkswagen's MEB (platform) for its purpose-built electric platform INGLO, on which M&M plans to launch five all-electric SUVs in India starting December 2024.
"The supply agreement will run over several years and will have a total volume of about 50 GWh over a lifetime," the statement said.
With the agreement, Volkswagen and Mahindra are further deepening their collaboration which started with a partnering agreement and a term sheet in 2022, they said.
Both companies will continue to evaluate a potential expansion of the collaboration. Volkswagen's MEB platform and its components are used by the group brands Volkswagen, Audi, Å koda, and SEAT/CUPRA as well as external partners like Ford and Mahindra.
"The partnership with Mahindra is led by Volkswagen Group Technology and its "Platform Business" unit in close cooperation with Å koda Auto Volkswagen India Pvt. Ltd," the statement said.
Volkswagen Group and Mahindra said they aimed to strengthen their e-mobility footprint in the Indian automotive market and to accelerate electrification in the region.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...