India’s Mahindra & Mahindra is looking into a relationship with Volkswagen AG to procure electric vehicle (EV) parts like batteries and motors for its new EV unit, valued at $9.1 billion. Over the following several years, Mahindra intends to introduce five electric sport-utility vehicles (SUVs). By March 2027, these vehicles are anticipated to account for up to 30%, or over 200,000 units, of the company’s annual SUV sales.
This collaboration will see:
- Meet the growing demands for EVs
- Both the companies have greater control over supplies and costs
- The companies achieve the national climate change and carbon reduction goals
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