Mahindra Group Explores Global Partnerships for EV Battery Production in India

Mahindra Group, a key player in India’s automotive sector, is exploring global partnerships to bolster its presence in the electric vehicle (EV) market through battery cell production. Anish Shah, MD and CEO of Mahindra Group, emphasized the company’s strategic interest in venturing into cell manufacturing, citing the sector’s critical importance. “We continue to closely examine cell manufacturing and are considering partnerships in this area,” Shah stated, highlighting the complex considerations involved.

Given the capital-intensive nature of battery production, Mahindra is open to collaborating with global technology firms and potentially private equity partners to manage financial risks and leverage external expertise. This approach aligns with Mahindra’s strategy to expand its capabilities in the rapidly evolving EV segment.

Mahindra’s recent collaboration with Volkswagen Group exemplifies its commitment to enhancing its EV portfolio. Under the agreement, Mahindra will utilize Volkswagen’s MEB architecture to source key EV components and unified cells for its INGLO platform. This partnership is expected to strengthen Mahindra’s lineup, with plans to introduce seven electric vehicles in India by 2030, including models like the XUV.e8, XUV.e9 coupe, and BE.05. Moreover, Mahindra is reportedly developing electric versions of popular models like the Scorpio and Bolero.

By entering the battery cell production space in collaboration with global entities, Mahindra Group aims to accelerate the adoption of electric mobility in India. These strategic initiatives underscore Mahindra’s commitment to sustainable innovation and transformative growth in the EV sector, positioning the company as a leader in India’s evolving automotive landscape.