Mahindra forms strategic alliance with Volkswagen

16 Aug 2022 , 10:26 AM

Mahindra & Mahindra and The Volkswagen Group announced they intend to expand their cooperation. Both companies signed a Term Sheet on the supply of MEB electric components for Mahindras new, purpose-built electric platform INGLO, deepening the Partnering Agreement from earlier this year. The cooperation intends to have a volume of more than one million units over lifetime and includes the equipment of five all-electric SUVs with MEB components. In addition, the two companies will explore further opportunities for collaboration, opening the perspective towards a broader strategic alliance to accelerate the electrification of the Indian automotive market. Mahindra showcased their new electric SUV family at the Mahindra Born EV vision unveil event in Banbury, United Kingdom. The electric SUVs will be launched on the all new INGLO platform architecture and envisaged to be equipped with MEB components including the electric drivetrain, the battery system and battery cells. The Term Sheet covers all major commercial and technical terms along with a path to the potential localization of the battery system. The final supply agreement will be negotiated in a continued constructive and legally compliant way by the end of 2022. Powered by Capital Market – Live News