Mahindra and Volkswagen Forge Alliance for EV Component Supply, Paving the Way for Enhanced Electric Mobility
In a significant stride towards bolstering electric mobility, Mahindra & Mahindra Ltd (M&M) has sealed a pivotal deal with Volkswagen Group, marking the first supply agreement for the utilization of essential electric components from the German automaker’s MEB (modular electric drive matrix) for Mahindra’s electric platform, INGLO.
This landmark agreement encompasses the supply of specific electric components alongside unified cells, as outlined in a joint statement by both automotive giants.
Building upon their existing collaboration initiated through a partnering agreement and a term sheet in 2022, Volkswagen and Mahindra are intensifying their partnership. The statement affirms ongoing assessments for potential collaboration expansion.
Mahindra emerges as the inaugural external partner to leverage Volkswagen’s unified cell concept, a cornerstone of the German automaker’s battery strategy.
Spanning several years, the supply agreement is projected to encompass a total volume of approximately 50 gigawatt-hours (GWh) over its lifetime.
With a shared vision to fortify their e-mobility presence in the Indian automotive landscape and expedite electrification across the region, Volkswagen Group and Mahindra aim to reinforce their e-mobility footprint in the Indian automotive market and to hasten electrification in the region.
Eyeing a significant portion of its sales from electric vehicles by 2027, Mahindra currently ranks as India’s third-largest electric carmaker, trailing Tata Motors and MG Motor India.
Despite the exponential growth in electric car sales, constituting over 2.2% of the 41 lakh cars shipped in 2023, the Indian government targets electric vehicles to comprise 30% of all new-car sales by the decade’s end.
Mahindra’s strategic roadmap involves launching five all-electric SUVs in India based on its newly developed electric platform INGLO, commencing from December 2024. Additionally, the company plans to introduce an electric version of its renowned off-roader, Thar.
Anish Shah, Managing Director and CEO of Mahindra Group, expressed confidence in delivering vehicles surpassing industry standards in quality, citing a comprehensive range of offerings poised to accelerate the transition to electric mobility.
Identifying prolonged charging times as a primary barrier to EV adoption, Shah envisions a significant reduction to just 30 minutes with Mahindra’s ‘born-electric’ EVs, catalyzing widespread acceptance.
With India boasting a market of over four million new vehicles annually, the electrification of the passenger car segment is poised for substantial momentum in the foreseeable future.
Volkswagen’s MEB platform and associated components are utilized by Group brands Volkswagen, Audi, Škoda, and SEAT/CUPRA, along with external partners like Ford and Mahindra. Spearheaded by Volkswagen Group Technology and its Platform Business unit, the collaboration with Mahindra signifies a concerted effort towards advancing electric mobility on a global scale.