Volkswagen and Mahindra Deepen Cooperation on Electric Vehicle Components, Energy News, ET EnergyWorld

FRANKFURT (Reuters) – Volkswagen AG and Mahindra & Mahindra on Monday expanded their cooperation and signed a term sheet under which the German automaker will supply electrical components to its Indian counterpart.

The deal covers components for Volkswagen’s open platform for electric vehicles (EVs), called MEB, which will be supplied to Mahindra’s new INGLO electric platform, the companies said.

The INGLO platform, which will power all of Mahindra’s electric vehicles, offers options ranging from 60 to 80 kilowatt-hours (kWh) battery capacity and fast charging up to 80% in less than 30 minutes, said Mahindra, without specifying the range of EVs.

Tata Motors, which currently dominates the Indian electric vehicle market, claims that the 40.5 kWh battery in its Nexon EV provides a range of 437 kilometres.

The cooperation targets a volume of more than one million vehicles by 2030 and includes equipping five INGLO-based electric sports utility vehicles (SUVs), the companies said.

“The partnership not only demonstrates that our platform business is highly competitive, but also that the MEB is well on its way to becoming one of the leading open platforms for e-mobility,” said Thomas Schmall, board member of administration of Volkswagen.

Schmall declined to provide firm figures, but said the deal would result in significant operating profit which he said would be comparable to a mid-sized brand within the Volkswagen Group.

Volkswagen and Mahindra said in May that they were exploring a partnership in the supply of electrical components, making Mahindra the second largest MEB platform customer after Ford.

They said at the time that they would finalize the deal by the end of 2022.

Mahindra said it expects electric models to account for between 20 and 30 percent of its total SUV sales by March 2027. The company sells some of the most popular combustion engine SUVs in India, including the Scorpio and the Thar.

Comments are closed.