PARTNERING AGREEMENT FOR MEB ELECTRIC COMPONENTS IN CHENNAI

 Volkswagen and Mahindra sign Partnering Agreement for
MEB electric components in Chennai

   Partnering agreement signed in Chennai on 18^th May evening.

India/ Wolfsburg, 19^th May 2022 – Volkswagen and Mahindra & Mahindra Ltd. (M&M) are exploring the use of MEB electric components for Mahindra’s new “Born Electric Platform”. Both parties announced today that they have signed a Partnering Agreement on 18^th May to evaluate the scope of collaboration. Mahindra intends to equip its “Born Electric Platform” with MEB electric components such as electric motors, battery system components and battery cells.it indicates binding rules for the evaluation phase as well as the non-binding scope of supply. The binding supply agreement will be negotiated in a continued constructive and legally compliant way to conclude by the end of 2022

  Binding supply contract planned to be concluded by end of 2022.        At the Glasgow Climate Change Conference, India committed itself to 100% zero-emissions vehicles from 2035 onwards

 Technology and Components 

Thomas Schmall, Volkswagen Group Board of Management member for Technology and CEO of Volkswagen Group Components, stated, “Mahindra is a pioneer in the electric mobility space in India and a great partner for our MEB Electric Platform. Together with Mahindra, we want to contribute significantly to the electrification of India, a huge automotive market with enormous growth potential and high relevance for climate protection. It’s another proof point that the MEB is both technologically state of the art and highly competitive in terms of cost.

 Partnership Commenting

 Rajesh Jejurikar, Executive Director, Auto and Farm Sectors, Mahindra & Mahindra Ltd., stated: “We are very pleased to have Volkswagen, a significant global investor in the electric mobility space, as a strategic partner in achieving our ambitious Born Electric Vison. The complementarity of their extensive technology, innovation, and vertical integration in supply chains, will provide a framework to develop our next gen “Born Electric Platform”, to be revealed soon in Oxfordshire UK.  Teams across India, UK and Detroit are passionately creating a breath-taking future.”

Global Top-5 Automotive Markets  

India is one of the Global Top-5 Automotive Markets with about three million vehicles per year. According to current forecasts, the market could grow to up to five million vehicles by 2030. So far, the market has been dominated by vehicles with diesel or petrol engines. However, at the 2021 Climate Summit in Glasgow, India undertook only to register zero-emission passenger cars and vans, starting in 2035. As a result, the electrification of the passenger car segment is expected to gain significant momentum in the coming years. Industry experts anticipate that in 2030 more than half of all new vehicles will be fully electric.

 MEB Electric Platform 

Today, Volkswagen’s MEB Electric Platform is used by the Group brands Volkswagen, Audi, SKODA and SEAT/CUPRA as well as external partners. Responsibility for these partnerships has been assigned to the “Platform Business” unit created specifically for this purpose.

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