Volkswagen AG (VOWG_p.DE) and Mahindra & Mahindra (MAHM.NS) on Monday enhanced their collaboration and signed a term sheet under which the German carmaker will provide electric components to its Indian peer.
The agreement provides for components of Volkswagen’s open platform for electric vehicles (EVs), called MEB, to be allocated to Mahindra’s new electric platform INGLO, the companies said.
The INGLO platform, which will power each of Mahindra’s EVs, gives alternatives ranging from 60-80 kilowatt hour (kWh) battery capacity and fast-charging of up to 80% in under half an hour, Mahindra said, without stating the range of the EVs.
Tata Motors (TAMO.NS), which presently controls India’s EV market, says its Nexon EV’s 40.5 kWh battery provides a range of 437 kilometres. The collaboration strives for a volume of over 1 million vehicles by 2030 and consists of the equipment of five electric sports utility vehicles (SUV) based on INGLO, the companies said.
Volkswagen management board member Thomas Schmall said:
“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.”
Schmall refused to issue fixed numbers but said that the agreement would turn into a remarkable operating result that he said would be similar to a medium-sized brand within the Volkswagen group.
Buy Crypto NowVolkswagen and Mahindra in May said they were considering a partnership in the provision of electric components, making Mahindra the second-largest customer for the MEB platform behind Ford (F.N). They said currently they would conclude the agreement by the end of this year.
Mahindra has said it estimates electric models to account for between 20% and 30% of its total SUV sales by March 2027. The company sells several of India’s most popular combustion engine SUVs, including the Thar and Scorpio.
