Mahindra, Volkswagen Sign Term Sheet For MEB Component Supply

Mahindra and the Volkswagen Group have furthered their initial partnering agreement with the signing of a new term sheet for the supply of MEB electric components. The two companies had, back in May 2022, entered into an agreement to explore EV component sharing with Dr Anish Shah, CEO, Mahindra and Mahindra, having confirmed in July 2022 that the partnership with VW was moving ahead as planned.

Also read: Mahindra Says EV Partnership With Volkswagen Moving Ahead As Planned

As per the new agreement, Volkswagen will supply Mahindra with components from its all-electric MEB architecture for use in the company’s new INGLO EV platform. The agreement extends to cover five electric SUVs from Mahindra using the new EV platform with the company having confirmed four of the new SUVs for launch by 2026. The term sheet though is just an initial agreement with a final legally compliant supply agreement only due to be signed by the end of 2022.

INGLO platform to use VW MEB components such as the drivetrain, battery cells and more.

Also read: Mahindra Unveils Five New Electric SUV Concepts Based On The Brand New INGLO Platform

Thomas Schmall, Volkswagen Group Board of Management member for Technology and CEO of Volkswagen Group Components, said, “We are happy that we have identified a larger scope of collaboration between our two companies. Together, Volkswagen and Mahindra can contribute significantly to the electrification of India, a huge automotive market with ambitious climate protection commitments. The MEB Electric Platform and its components are key to affordable sustainable mobility around the globe. 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.”

Mahindra’s new INGLO platform will feature the use of multiple MEB platform components including the battery cells and system as well as the electric drivetrain. The Term Sheet also covers major commercial and technical terms along with a path to potential localising the manufacturing of the battery system.

The Term Sheet covers the supply of MEB components for five electric vehicles.

Also read: New Mahindra Electric SUV Concepts: All You Need To Know

Commenting on the announcement, Rajesh Jejurikar, Executive Director, Auto and Farm Sectors, Mahindra & Mahindra Ltd., stated, “The signing of the techno-commercial term sheet is a significant step forward in our partnership with Volkswagen. Our purpose-built INGLO platform offers unmatched potential for growth and further customization 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.”

The two companies have said that they are also exploring further opportunities for collaboration in the EV space including the development of charging systems and energy solutions for India’s EV ecosystem.