Volkswagen AG, M&M deepen EV component co-operation, sign term sheet
FRANKFURT (Reuters) – Volkswagen AG and Mahindra and Mahindra on Monday expanded their cooperation and signed a term sheet under which the German carmaker will supply electric components to its Indian peer.
The agreement covers components of Volkswagen’s open platform for electric vehicles (EVs), called MEB, to be supplied to Mahindra’s new electric platform INGLO, the companies said in a joint statement.
The cooperation aims for a volume of more than 1 million units over lifetime and includes the equipment of five all-electric sports utility vehicles (SUV) based on INGLO, the companies said.
