Mahindra and Mahindra Ltd and the Volkswagen Group have announced that the two companies will be expanding their collaboration. Earlier, both companies signed a term sheet for the supply of MEB components for Mahindra’s new INGLO electric vehicle platform. The cooperation means to have a volume of one million units and is part of the component acquisition for Mahindra’s five new electric-SUVs.
The INGLO platform, developed by Mahindra for its electric SUVs uses electric drivetrain, battery system and battery cells from the MEB platform. In the term sheet, all major commercial and technical terms that will lead to the localization of the battery system are included. The final agreement will be negotiated upon by both parties and finalised by the end of 2022.
There is also a possibility of a strategic alliance between the two companies for India, with both companies agreeing to explore further e-mobility opportunities. This will include vehicle projects, localisation of battery cell manufacturing, charging and energy solutions for electric vehicle ecosystem in India.
Speaking on the statement, Thomas Schmall, Volkswagen Group Board of Management member for Technology and CEO VW Group components, said,“We are happy that we have identified a larger scope of collaboration between our two companies. Together, Volkswagen and Mahindra can contribute significantly to the electrification of India, a huge automotive market with ambitious climate protection commitments. The MEB Electric Platform and its components are key to affordable sustainable mobility around the globe. The partnership not only demonstrates that our platform business is highly competitive, but also that the MEB is well on track to become one of the leading open platforms for e-mobility.”
“The signing of the techno-commercial term sheet is a significant step forward in our partnership with Volkswagen. Our purpose-built INGLO platform offers unmatched potential for growth and further customization for developing new and innovative products, not just for India, but for global markets. Our vision is to lead the electric mobility revolution in India by bringing authentic electric SUVs with cutting-edge technology, as showcased in the UK today. We are very pleased to explore further areas of potential collaboration with Volkswagen and are confident that together, we will be able to shape an exciting electric future.” said Rajesh Jejurikar, Executive Director, Auto and Farm Sectors, Mahindra and Mahindra Ltd.