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Mahindra & Volkswagen comes together for EV Components
Industry News- Sep 06,23
In addition to these initiatives, Mahindra is targeting an annual production of 200,000 electric vehicles at its Chakan plant in Maharashtra from 2027 to 2029.
According to a Reuters report, Mahindra & Mahindra Ltd is currently engaged in discussions with Volkswagen regarding the utilization of key electric components from the German car manufacturer's open electric vehicle platform, known as the modular electric drive matrix (MEB). The report mentions that Mahindra intends to incorporate components such as the e-drive and unit cells into their own electric vehicle lineup.
Volkswagen's MEB platform serves as a versatile foundation for electric vehicles and is employed in various models, including those from Audi, Cupra, Skoda, and Volkswagen, as well as through a partnership with Ford.
It has been reported that in August, M&M Ltd and Volkswagen signed a term sheet outlining an agreement wherein the German automaker would supply Mahindra with electric components.
As per Mahindra's capital expenditure, as reported by the Economic Times, an investment of approximately Rs 10,000 crore is anticipated for its electric vehicle subsidiaries during the financial years 2021-22 (FY22) to FY27. Within this timeframe, Rs 4,000 crore of the remaining balance is set to be invested from FY22 to FY24.
Furthermore, Mahindra has ambitious plans to introduce approximately five new electric vehicle models between April and October 2025. Additionally, Mahindra aims for electric SUVs to constitute 20-30 per cent of its SUV portfolio, potentially reaching up to 200,000 units of SUVs.
In addition to these initiatives, Mahindra is targeting an annual production of 200,000 electric vehicles at its Chakan plant in Maharashtra from 2027 to 2029.
Mahindra
Volkswagen
electric components
EV
collaboration
MEB platform
investment
new EV models
Chakan plant
Maharashtra
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