Volkswagen And Mahindra Explore Strategic Alliance
Photo credit: Volkswagen
Volkswagen and Mahindra have just unveiled its new family of electric SUVs at an event in Banbury, UK called Mahindra Born EV. The launch of the electric SUVs will be launched in conjunction with the new INGLO platform architecture and is anticipated to be equipped with MEB components including the electric powertrain, battery system, and a unified Volkswagen cell. The main commercial and technical terms are covered by the term sheet with a step towards the potential localization of the battery system. The final supply agreement will be negotiated constructively and legally by the end of 2022.
The next step will be to agree to explore further potential areas of collaboration in the field of electric mobility with India, including vehicle projects, localization of battery cell manufacturing and charging, and energy solutions to support the electric ecosystem in India.
“The signing of the technical-commercial term sheet is an important step forward in our partnership with Volkswagen. Our specially designed INGLO platform offers unmatched potential for growth and further customization to develop new and innovative products, not only for India but also for global markets. Our vision is to lead the electric mobility revolution in India by bringing true electric SUVs with cutting-edge technology, as showcased in the UK today. We are excited to explore further areas of potential collaboration with Volkswagen and are confident that together we can shape an exciting electric future.” Said Rajesh Jejurikar, executive director in charge of agriculture and automotive sectors, Mahindra & Mahindra Ltd.
Thomas Schall, Member of the Board of Management and Volkswagen Group CEO for Components, says: “We are pleased to have identified further scope for collaboration between our two companies. Together, Volkswagen and Mahindra can make a significant contribution 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 worldwide. The partnership not only demonstrates that our platform business is highly competitive, but also that MEB is well on track to become one of the leading open platforms for electric mobility. We are therefore delivering on the focus of our Volkswagen NEW AUTO strategy to make the platform business a solid pillar of our Group and unlock future profit pools through economies of scale.” Said Thomas Schall, Member of the Board of Management and Volkswagen Group CEO for Components.
Along with China, India has one of the largest markets in the automotive industry with around three million new vehicles per year, and India is the only region to record an increase in new registrations in the first six months of 2022.
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