Volkswagen AG and Mahindra & Mahindra signed a term contract on Monday under which the German automaker will sell electric components to its Indian counterpart.
According to the firms, the agreement covers components of Volkswagen's open platform for electric cars (EVs), known as MEB, that will be given to Mahindra's new electric platform INGLO.
The INGLO platform, which will power all of Mahindra's EVs, will provide options ranging from 60-80 kWh battery capacity and fast-charging of up to 80 per cent in less than 30 minutes, according to Mahindra, who did not state the range of the EVs.
Tata Motors, which presently dominates India's EV industry, claims that the 40.5 kWh battery in its Nexon EV has a range of 437 kilometres.
The collaboration aims for a volume of more than one million vehicles by 2030 and involves the equipping of five INGLO-based electric sports utility vehicles (SUVs).
"The partnership not only demonstrates that our 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," Volkswagen management board member Thomas Schmall said.
Schmall refused to say specific figures but stated that the arrangement would result in a significant operating outcome equivalent to a medium-sized brand within the Volkswagen group.
Volkswagen and Mahindra announced a relationship in the supply of electric components in May, making Mahindra the MEB platform's second largest customer behind Ford.
They stated at the time that the agreement will be finalised by the end of 2022.
Mahindra anticipates electrified models to account for 20 per cent to 30 per cent of overall SUV sales by March 2027. The Scorpio and Thar, two of India's most popular combustion engine SUVs, are sold by the firm.
(Source:www.businessworld.in)
According to the firms, the agreement covers components of Volkswagen's open platform for electric cars (EVs), known as MEB, that will be given to Mahindra's new electric platform INGLO.
The INGLO platform, which will power all of Mahindra's EVs, will provide options ranging from 60-80 kWh battery capacity and fast-charging of up to 80 per cent in less than 30 minutes, according to Mahindra, who did not state the range of the EVs.
Tata Motors, which presently dominates India's EV industry, claims that the 40.5 kWh battery in its Nexon EV has a range of 437 kilometres.
The collaboration aims for a volume of more than one million vehicles by 2030 and involves the equipping of five INGLO-based electric sports utility vehicles (SUVs).
"The partnership not only demonstrates that our 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," Volkswagen management board member Thomas Schmall said.
Schmall refused to say specific figures but stated that the arrangement would result in a significant operating outcome equivalent to a medium-sized brand within the Volkswagen group.
Volkswagen and Mahindra announced a relationship in the supply of electric components in May, making Mahindra the MEB platform's second largest customer behind Ford.
They stated at the time that the agreement will be finalised by the end of 2022.
Mahindra anticipates electrified models to account for 20 per cent to 30 per cent of overall SUV sales by March 2027. The Scorpio and Thar, two of India's most popular combustion engine SUVs, are sold by the firm.
(Source:www.businessworld.in)
