Volkswagen and Mahindra Strike Major Deal for Electric Mobility Advancement

Volkswagen and Mahindra Strike Major Deal for Electric Mobility Advancement

(IN BRIEF) In a significant move towards advancing their joint vision for e-mobility, Volkswagen Group and Mahindra & Mahindra Ltd. (M&M) have signed a landmark supply agreement for components of Volkswagen’s MEB platform to be integrated into Mahindra’s purpose-built electric platform, INGLO. This agreement represents a crucial step in their collaboration, which began in 2022 with a partnering agreement. Mahindra will become the first external partner to utilize Volkswagen’s unified cell concept, a pivotal aspect of their battery strategy, with an estimated volume of about 50 GWh over several years. This partnership aims to strengthen the e-mobility landscape in India, with Mahindra planning to introduce five all-electric SUVs based on the INGLO platform starting from December 2024, aligning with the region’s growing momentum towards electrification.

(PRESS RELEASE) WOLFSBURG, 16-Feb-2024 — /EuropaWire/ — Volkswagen Group and Mahindra & Mahindra Ltd. (M&M) have signed the first supply agreement on components of Volkswagen´s MEB for Mahindra’s purpose-built electric platform INGLO, taking a definitive step further on their joint vision for e-mobility collaboration. The deal covers the supply of certain electric components as well as unified cells. With the agreement, Volkswagen and Mahindra are further deepening their collaboration which started with a partnering agreement and a term sheet in 2022. Both companies will continue to evaluate a potential expansion of the collaboration.

Mahindra will be the first external partner to use the groundbreaking unified cell concept, the core element of Volkswagens battery strategy. The supply agreement will run over several years and will have total volume of about 50 GWh over lifetime. Volkswagen Group and Mahindra aim to strengthen their e-mobility footprint in the Indian automotive market and to accelerate the electrification in the region. Mahindra plans to launch five all-electric SUVs in India based on its new, purpose-built electric platform INGLO, starting December 2024. With more than five million new vehicles per year in 2023, India is one of the largest automotive markets in the world. The electrification of the passenger car segment is expected to gain significant momentum in the coming years.

Volkswagen’s MEB platform and its components are used by the Group brands Volkswagen, Audi, Škoda and SEAT/CUPRA as well as external partners like Ford and Mahindra. The partnership with Mahindra is led by Volkswagen Group Technology and its “Platform Business” unit in close cooperation with Škoda Auto Volkswagen India Pvt. Ltd.

Media Contact:

Tim Fronzek
Volkswagen Group Components | Group Technology Division | Speaker Products and Innovations
+49 (0)152 5887 2578
tim.fronzek@volkswagen.de

SOURCE: Volkswagen Group