Mahindra to equip its electric platform Inglo with electric components of Volkswagen

  • IANS
  • Stock Market News
Mahindra to equip its electric platform Inglo with electric components of Volkswagen
Credit: © Reuters.

New Delhi, Feb 16 (IANS) Volkswagen (ETR: VOWG_p ) Group and Mahindra & Mahindra Ltd. (NS: MAHM ) (M&M) have signed the first supply agreement on components of Volkswagen's MEB for Mahindra's purpose-built electric platform Inglo, a company statement said.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, Skoda and SEAT/CUPRA as well as external partners like Ford and Mahindra.

--IANS

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