Frankfurt - Mahindra is planning a full range of battery-powered SUVs and they’re going to be based around components from Volkswagen’s MEB platform for EVs.
On Monday the two carmakers signed a term sheet under which Volkswagen would supply electric components to its Indian peer. The agreement covers components of Volkswagen's MEB architecture, which will be integrated with Mahindra's new electric platform called INGLO, the companies said.
The INGLO platform, which will power all of Mahindra's EVs, offers options ranging from 60-80 kilowatt hour (kWh) battery capacities and fast-charging of up to 80% in less than 30 minutes, Mahindra said, without specifying the range of the EVs.
The cooperation aims for a volume of more than 1 million vehicles by 2030 and includes the equipment of five electric SUVs, all of which will be INGLO-based.
"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 declined to provide firm numbers but said that the agreement would translate into a significant operating result that he said would be comparable to a medium-sized brand within the Volkswagen group.
Volkswagen and Mahindra in May said they were exploring a partnership in the supply of electric components, making Mahindra the second largest customer for the MEB platform after Ford.
They said at the time they would finalise the agreement by the end of 2022.
Mahindra has said it expects electric models to make up between 20% and 30% of its total SUV sales by March 2027. The company sells some of India's most popular combustion engine SUVs, including the new Scorpio and Thar.
While it’s too early to speculate whether any of these new EVs are bound for South Africa, Mahindra executive Rajesh Jejurikar confirmed that some of these models would be bound for international markets.
“The signing of the techno-commercial term sheet is a significant step forward in our partnership with Volkswagen,” Jejurikar said.
“Our purpose-built INGLO platform offers unmatched potential for growth and further customisation for developing new and innovative products, not just for India, but for global markets. 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 today.”
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IOL & Reuters