(CercleFinance.com) – The Volkswagen group announced yesterday that it wanted to extend its cooperation with Mahindra & Mahindra (M&M), an Indian car manufacturer.
The two companies have signed a term sheet for the supply of MEB electrical components for Mahindra’s new INGLO electrical platform, deepening the partnership agreement from earlier this year.
The cooperation targets a volume of more than one million component units to equip five different all-electric SUV models with MEB components.
The partners also intend to explore new collaboration opportunities, opening the prospect of a broader strategic alliance to accelerate the electrification of the Indian automotive market.
According to Volkswagen, ‘the final supply agreement will be negotiated in a continuous, constructive and legal manner by the end of 2022’.
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