Mahindra to explore more partnerships for EV components, says CEO

Mahindra and Mahindra CEO Anish Shah announced on Monday that the company will explore more partnerships with other companies to secure components for electric vehicles to boost its EV profile. Mahindra's Shah informed the automaker had focused on developing in-house components for electric vehicles, however, now changed plans and hence is stressing collaborations for faster growth in the EV segment.

File photo of Mahindra's three EV concept models for India.
File photo of Mahindra's three EV concept models for India.

Previously it has been reported that Mahindra signed an agreement with Volkswagen in which Mahindra plans to explore equipping its electric cars with motors, battery system components and cells made by the German auto major. “The world is moving towards a lot more partnerships. It's better to source the best that's out there, rather than do everything ourselves," Shah was quoted.

Also Read : Top 10 features confirmed to arrive in 2022 Mahindra Scorpio-N )

Mahindra, earlier this year, announced that it is going to introduce three concept electric vehicles this year. The automaker teased these three EV models stating, “Welcome to a reimagined world of Born Electric vehicles. Electrifying presence and Exhilarating performance brought to you by Mahindra's team of global designers, engineers and experts."

Also check these Cars

Find more Cars
Mahindra Xuv300 (HT Auto photo)
₹7.96 - 13.46 Lakhs**Ex-showroom price
Add to compare
Check latest offers
It's Quiz Time ! Can you guess the Car brand taglines?
Mahindra Xuv300 Turbo Sport (HT Auto photo)
₹10.35 - 12.9 Lakhs**Ex-showroom price
Add to compare
Check latest offers
Mg Comet Ev (HT Auto photo)
₹7.98 - 9.98 Lakhs**Ex-showroom price
Add to compare
Check latest offers
Maruti Suzuki Brezza (HT Auto photo)
₹7.99 - 13.96 Lakhs**Ex-showroom price
Add to compare
Check latest offers
Jeep Avenger (HT Auto photo)
₹8 - 12 Lakhs* *Expected Price
View Details
Honda Wr-v 2023 (HT Auto photo)
₹8 - 10 Lakhs* *Expected Price
View Details

As per a Reuters report, Shah also mentioned Mahindra will use ‘significant funds’ for electric vehicles and have them available. “We always will be open to value creation opportunities," he further added. Mahindra has developed a portfolio of EV commercial vehicles in the country, but the latest push is focused on passenger cars, and more particularly, sports utility vehicles (SUVs).

Also Read : Mahindra Scorpio-N to debut on June 27, 4x4 option and other highlights here )

Currently, Tata Motors dominates India's EV market and last year raised $1 billion from TPG for the business. MG Motor India, owned by China's SAIC Motor, also has plans to raise funds to develop its electric vehicle business.

First Published Date: 23 May 2022, 14:33 PM IST
Recommended for you
View all
Shopping Bag Shop Now
55% OFF
SOFTSPUN Microfiber Cloth - 4 pcs - 40x40 cms - 340 GSM Grey- Thick Lint & Streak-Free Multipurpose Cloths - Automotive Microfibre Towels for Car Bike Cleaning Polishing Washing & Detailing…
Rs. 269 Rs. 604
13% OFF
Involve Your Senses One Musk Organic Car Perfume, Involve Your Senses Strong Fiber Air Freshener to Freshen'up Your Car - IONE01-40 g,Car Accessories interior car perfumes and fresheners
Rs. 349 Rs. 399
73% OFF
pTron Bullet Pro 36W PD Quick Charger, 3 Port Fast Car Charger Adapter - Compatible with All Smartphones & Tablets (Black)
Rs. 349 Rs. 1,299
14% OFF
Jopasu Car Duster
Rs. 749 Rs. 869

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city