Mahindra and Mahindra has announced to have signed a Term Sheet with the Volkswagen Group on the supply of MEB electric components for its new, purpose-built electric platform INGLO.
According to a press release from M&M, the cooperation intends to have more than one million units over a lifetime and includes the equipment of five all-electric SUVs with MEB components.
Additionally, regarding the next step towards a possible strategic alliance for India, both companies agree to explore further potential areas of collaboration in the field of e-mobility, including vehicle projects, the localisation of battery cell manufacturing and charging and energy solutions for the electric ecosystem in India.
Thomas Schmall, Volkswagen Group Board of Management Member for Technology and CEO, Volkswagen Group Components, said, “The MEB Electric Platform and its components are key to affordable, sustainable mobility around the globe.”
The partnership not only demonstrates that the group’s 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, he added.
“We are thus delivering on the focus of our Volkswagen New Auto strategy to make the platform business a strong pillar of our Group and to unlock future profit pools through economies of scale,” Schmall said.
Rajesh Jejurikar, Executive Director, Auto and Farm Sectors, Mahindra & Mahindra, said, “Our vision is to lead the electric mobility revolution in India by bringing authentic electric SUVs with cutting-edge technology, as showcased in the UK.”
Interestingly, along with the signing of the term sheet, M&M also showcased five of its upcoming EV concepts under the two newly formed entities and the company’s new design centre in Banbury, Oxfordshire, UK.