Mahindra signs supply agreement with Volkswagen for electric components and cells

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Volkswagen Group and Mahindra & Mahindra Ltd.(M&M) have finalized a supply agreement concerning components of Volkswagen’s MEB platform for Mahindra’s electric platform INGLO. This agreement represents the collaboration between Volkswagen and Mahindra, which began with a partnering agreement and a term sheet in 2022.

The agreement encompasses the supply of specific electric components and unified cells. Both companies will continue to assess potential opportunities for expanding their collaboration.

Mahindra will be the first external partner to utilize Volkswagen’s unified cell concept, a pivotal aspect of Volkswagen’s battery strategy. The agreement spans multiple years with a total volume of approximately 50 GWh over its lifespan. The objective is to enhance their e-mobility presence in the Indian automotive market and expedite electrification in the region. Mahindra plans to introduce five all-electric SUVs in India based on its INGLO platform, commencing in December 2024. India, with over five million new vehicles annually as of 2023, represents one of the largest automotive markets globally.

Various Group brands (Volkswagen, Audi, Škoda and SEAT/CUPRA) and external partners, including Ford and Mahindra, utilize Volkswagen’s MEB platform and its components. The partnership with Mahindra is spearheaded by Volkswagen Group Technology and its Platform Business unit in collaboration with Škoda Auto Volkswagen India Pvt. Ltd.