Mahindra Plans To Support SsangYong's Electric Vehicle Business: Report
By Seshan Vijayraghvan
1 mins read
Published on May 5, 2021
- Mahindra plans to suppy EV powertrain to SsangYong for global markets
- The EV powertrains will be built on the MESMA 350 platform
- SsangYong has applied for receivership in Korea's bankruptcy court
Home-grown utility vehicle manufacturer, Mahindra & Mahindra, reportedly plans to keep supporting its loss-making South Korean subsidiary, SsangYong's electric vehicle business. Mahindra, which is developing electric SUVs and powertrain built on the new MESMA 350 platform, has said that it will supply them to SsangYong as per the Korean brand's requirement. Interestingly, the new electric powertrain developed by Mahindra is claimed to be suitable for converting exiting ICE (Internal Combustion Engine) vehicle, and even for use in electric vehicles that have been built ground up.
Now, the fact that Mahindra plans to supply the EV technology to SsangYong is not news to us. Back in January 2020, Mahindra Electric's CEO, Mahesh Babu had announced that the company is working on a 350-volt powertrain which will be exported to South Korea and Europe, where the technology will be used by SsangYong in its new electric vehicle. However, since then, a lot of things have changed. SsangYong which has been in financial trouble recently applied for receivership in South Korea's bankruptcy court, whereas Mahindra has been looking for a buyer for the South Korean brand.
So, we wonder if Mahindra has changed its strategy for SsangYong, at least with regards to electric vehicles. We have reached out to Mahindra for an official confirmation and to get more details on the matter, however, at the time of publishing this report, our email sent to the company remained unanswered.
As far as India is concerned, with regards to EVs, the company's major focus is towards shared and last-mile connectivity. The company has already launched the Treo and Treo Zor, which cater to the passenger and goods transport sector respectively. Last year Mahindra also said that it has earmarked an investment of Rs. 500 crore to set up new electric vehicle technology and R&D centre near the Bengaluru airport.
Source: ET Auto
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