Volkswagen, Mahindra Sign Supply Agreement for EV Components
By Adria Calatayud
Volkswagen and Mahindra & Mahindra signed a supply deal for electric components and vowed to evaluate further collaboration opportunities in India, where they expected the electrification of the passenger-car market to rev up.
The companies said Friday that the agreement covers the supply of certain electric components of Volkswagen's modular electric drive platform as well as battery cells for Mahindra's electric-vehicle platform. The supply agreement will run over several years and will have a volume of about 50 gigawatt hours over its lifetime, they said.
Financial details weren't disclosed.
Volkswagen and Mahindra started collaborating in 2022 with a partnering agreement and a term sheet and will continue to evaluate a potential expansion of their relationship, they said.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
February 16, 2024 02:09 ET (07:09 GMT)
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