Mahindra & Mahindra open to investing in EV battery cell maker to secure supplies: CEO Anish Shah

Mahindra & Mahindra could consider investing in a battery-cell company to meet future electrification needs, its CEO said, after the company raised funds for its new electric vehicle (EV) unit at a $9.1 billion valuation.

Mahindra on Thursday raised $250 million from British International Investment for the unit and is exploring a partnership with Volkswagen AG to source such EV components as batteries and motors.