Volkswagen and the Indian car manufacturer Mahindra have signed a first binding delivery contract for the cooperation in the field of electromobility that was planned two years ago.
As VW announced, components of the modular electric drive kit (MEB) and standard cells will be delivered to Mahindra for its own electric platform called INGLO. “Both companies will examine a possible expansion of the collaboration,” the DAX group continued.
The supply contract will run for several years and will have a total volume of around 50 GWh over its entire lifespan. Mahindra will be the first external partner to use VW’s standard cell, the Wolfsburg-based company also announced. The Indian company plans to launch five fully electric SUVs in India from December 2024.
In XETRA trading on Friday, Volkswagen’s preferred shares temporarily rose by 1.14 percent to 120.54 euros.
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