On Monday, FRANKFURT Volkswagen AG and Mahindra and Mahindra expanded their cooperation and signed a term sheet under which the German carmaker will supply electric components to its Indian rival.
The agreement covers components of Volkswagen's open platform for electric vehicles EVs called MEB, which will be supplied to Mahindra's new electric platform INGLO, the companies said in a joint statement.
The equipment of five all-electric sports utility vehicles SUV based on INGLO is part of the cooperation and is expected to be purchased over a lifetime of more than 1 million units, according to the companies.
Volkswagen management board member Thomas Schmall said that the MEB Electric Platform and its components are the key to affordable sustainable mobility around the world.
The MEB is on track to become one of the leading open platforms for e-mobility, because our platform business is highly competitive. In May, Volkswagen and Mahindra said they were exploring a partnership in the supply of electric components, making Mahindra the second big customer for the MEB platform after Ford.
They said they would finalise the agreement by the end of 2022.