Mahindra and Volkswagen Explore Strategic Alliance to Accelerate Electrification of Indian Automotive Market

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Source: Mahindra & Mahindra

“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.” - Thomas Schmall, Volkswagen Group Board of Management member for Technology and CEO, Volkswagen Group Components

August 2022 : Mahindra & Mahindra Ltd. (M&M) and The Volkswagen Group recently announced they intend to expand their cooperation. Both companies signed a Term Sheet on the supply of MEB electric components for Mahindra’s 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 a 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 toward a broader strategic alliance to accelerate the electrification of the Indian automotive market.

Thomas Schmall, Volkswagen Group Board of Management member for Technology and CEO, Volkswagen 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.”

He further said, “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. We are thus delivering on the focus of our Volkswagen NEW AUTO strategy to make the platform business a strong pillar of our Group and to unlock future profit pools through economies of scale.”

Commenting on the announcement, Rajesh Jejurikar, Executive Director, Auto and Farm Sectors, Mahindra & Mahindra Ltd., stated: “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.”

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