Volkswagen Group and Mahindra & Mahindra Limited (M&M) today announced that they plan to expand their collaboration. The two companies signed a term sheet to supply MEB electric components for Mahindra’s new, purpose-built electric platform INGLO, deepening the partnership agreement from earlier this year. The collaboration aims to have a lifetime volume of over 1 million units and includes the supply of five all-electric SUVs with MEB components. In addition, the two companies will explore further opportunities for collaboration, opening the way towards a broader strategic alliance to accelerate the electrification of the Indian automotive market.
Mahindra today showcased its new electric SUV family at the Mahindra Borne EV Vision launch event in Banbury, United Kingdom. The electric SUVs will be launched on the all-new INGLO platform architecture and are expected to be equipped with MEB components including the electric drivetrain, battery system and Volkswagen’s Unified Cell. The term sheet covers all the important commercial and technical terms along with the possible localization path.
of the battery system. A final supply agreement will continue to be negotiated constructively and legally compliant until the end of 2022.
As for the next step towards a potential strategic alliance for India, the two companies agree to explore further. potential, potential Areas of cooperation in the field of e-mobility, including vehicle projects, localization of battery cell manufacturing and charging and energy solutions for the electric ecosystem in India.
Thomas Schmel, Member of the Volkswagen Group Board of Management for Technology and CEO of Volkswagen Group Componentssaid: “We are delighted to have identified the broad scope of collaboration between our two companies. Together, Volkswagen and Mahindra can play a significant role in India’s electrification, which is a huge is the automotive market with strong commitments to climate protection. The MEB electric platform and its components are the key to affordable sustainable mobility worldwide. The partnership not only demonstrates that our platform business is extremely is competitive, but also that MEB is on track to become one of the leading open platforms for e-mobility. In this way, we aim to make the platform business a strong pillar of our group and future-proof it through economies of scale. Focusing on its Volkswagen NEW AUTO strategy to unlock profit pools.”
Commenting on the announcement, Rajesh Jejurikar, Executive Director, Auto & Farm Sector, Mahindra & Mahindra Limited., said: “The signing of the techno-commercial term sheet is an important step in our partnership with Volkswagen. Our purpose-built INGLO platform will be developed and developed to develop new and innovative products not only for the Indian but also global markets. offers unparalleled potential for further customization. Our vision is to lead the electric mobility revolution in India by bringing authentic electric SUVs with advanced technology, as demonstrated today in the UK. We look forward to a possible collaboration with Volkswagen. We are very excited to explore more areas and we believe that together we will be able to shape an exciting electric future.
With around 3 million new vehicles every year, India is one of the five largest automobile markets in the world and, along with China, the only region to record an increase in new registrations in the first half of 2022. Electrification of the passenger car segment is expected to gain significant momentum in the coming years.