iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Mahindra & Mahindra Partners with Volkswagen for EV Components, Drives Shares Up by 6%

16 Feb 2024 , 03:06 PM

Mahindra and Mahindra Limited shares rose by nearly 6% to ₹1,865 on February 16 after signing an agreement with Volkswagen for electric vehicle components.  At the time of writing, the stock was trading at ₹1836 which is a 4.02% hike than previous close. The collaboration involves equipping Mahindra’s INGLO electric platform with Volkswagen’s MEB and unified cells, as outlined in a 2022 partnering deal.

Volkswagen’s unified cells concept, a key element in their battery strategy, is central to the agreement, spanning several years and reaching a total volume of about 50 GWh.

Mahindra plans to launch five all-electric SUVs in India from December 2024, leveraging the INGLO platform. Mahindra is set to become the first external partner to use Volkswagen’s groundbreaking unified cell concept, emphasizing this achievement in the exchange filing.

India’s significant automotive market, with over five million new vehicles annually in 2023, is expected to witness substantial electrification in the passenger car segment.

Volkswagen’s MEB platform and components, utilized by various brands, including Audi, Škoda, and SEAT/CUPRA, are part of the collaboration. The partnership between Mahindra and Volkswagen is led by Volkswagen Group Technology, showcasing a technological alliance.

For feedback and suggestions, write to us at editorial@iifl.com

 

 

Related Tags

  • EV Components
  • Mahindra & Mahindra
  • news
  • Volkswagen
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.