We evaluate all opportunities, says Anish Shah on possible JV with Volkswagen

In February 2024, the two automakers signed a supply agreement for EV components which includes supply of certain electrical components and unified cells for Mahindra INGLO range of born electric vehicles

The Mahindra group continues to weigh all options, including a potential joint venture with the Volkswagen group but no final agreement has yet been reached on the nature of collaboration, Mahindra group managing director and chief executive officer Anish Shah told Moneycontrol in an exclusive interview.

“We’ve seen the speculation, and while partnerships are a key part of today’s business ecosystem, any partnership must align with our long-term strategy," Shah said. “We’ve already partnered with Volkswagen on battery and motor technology and we Initially, thought of leveraging on their (MEB) platform but we opted to develop our own EV (Born Electric) platform, which we believe is superior to existing platforms.”

On speculation over Volkswagen seeking a partner for its Indian operations, “we evaluate all opportunities based on their long-term strategic value, technological benefits, and potential for future collaboration”, he said.

Mahindra’s technology is competitive with the best globally, including luxury carmakers and Chinese manufacturers. Its electric vehicle technology is entirely indigenously developed at Mahindra Research Valley (Chennai), which has over 4,000 engineers. The team has done remarkable work, building not just EVs but also advanced combustion engine models over the years, he said.

In February, the two automakers signed an agreement which includes supply of certain electrical components and unified cells for Mahindra INGLO range of "born-electric vehicles".

Also read: Mahindra group is exploring opportunities in emerging sectors: Anish Shah

INGLO is built exclusively for EVs, unlike many mainstream electric vehicles that are adapted from combustion-engine designs.

It is designed with a flat skateboard style, a low centre of gravity, and a wide-open floor.

Mahindra and Volkswagen first collaborated in 2022 to integrate key EV technologies such as motors, battery systems, and cells into Mahindra’s vehicles.