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Volkswagen Group, Mahindra & Mahindra enter supply pact for electric vehicle components

Under the agreement, Mahindra will become the first external partner to use Volkswagen’s “groundbreaking unified cell concept”, the core element of its battery strategy, the two companies said in a joint statement

Our Bureau New Delhi Published 17.02.24, 09:31 AM
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German automotive major Volkswagen Group and Mahindra & Mahindra Ltd on Friday announced their first supply agreement for electric vehicle components under their joint vision for electric mobility collaboration.

Under the agreement, Mahindra will become the first external partner to use Volkswagen’s “groundbreaking unified cell concept”, the core element of its battery strategy, the two companies said in a joint statement.

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The Indian firm will receive components of Volkswagen’s MEB (platform) for its purpose-built electric platform INGLO, on which M&M plans to launch five all-electric SUVs in India starting December 2024.

“The supply agreement will run over several years and will have a total volume of about 50 GWh over a lifetime,” the statement said.

With the agreement, Volkswagen and Mahindra are further deepening their collaboration which started with a partnering agreement and a term sheet in 2022, they said.

Both companies will continue to evaluate a potential expansion of the collaboration.
Volkswagen’s MEB platform and its components are used by the group brands Volkswagen, Audi, Skoda, and SEAT/CUPRA as well as external partners such as Ford and Mahindra.

“The partnership with Mahindra is led by Volkswagen Group Technology and its ‘Platform Business’ unit in close cooperation with Skoda Auto Volkswagen India Pvt. Ltd,” the statement said.

Volkswagen Group and Mahindra said they aimed to strengthen their e-mobility footprint in the Indian automotive market and to accelerate electrification in the region.

Mahindra & Mahindra reported a 34 per cent increase in consolidated profit after tax at Rs 2,658 crore for the third quarter ended December 31, 2023, driven by robust sales across verticals.

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