Mahindra Looks For Global Partners To Locally Produce Battery Cells

As Mahindra readies for a future that will be comprised of EVs significantly, the company has started to look for global players to help locally produce battery cells. The company is also looking at a possible timeframe of 2030 by which it will list its all-electric arm Mahindra Electric Automobile Ltd (MEAL), confirmed Anish Shah, Mahindra Group MD and CEO to PTI. 

Furthermore, Anish also stated that it will be looking at global technology partner, “potentially at private equity partners as well because we will not put the entire capital.” However, the company realises the current situation of the country regarding EVs and its subsequent infrastructure. Range anxiety and high cost of ownership continue to elude customers from committing to an electric vehicle. 

On this front, Anish believes that Mahindra’s upcoming range of BE (Born Electric) SUVs, which will start coming in from January 2025 onwards, will play a key role in exciting customers about EVs. Mahindra is also aiming for a portfolio which will comprise 20-30 per cent of electric vehicles by 2027, by which point it also expects the charging infrastructure in the country to develop. Currently, India has 27,000 chargers, while the United States has around 1.76 lakh chargers, and China has almost double that across the country. 

Mahindra’s Ambitious Plans

The Mahindra Group will be investing ₹37,000 crores over the next three years across different business verticals. Out of which a significant chunk has been reserved for the auto sector. Earlier in business plans revealed by the group, Mahindra is set to introduce 23 new vehicles by 2030, which include nine ICE-powered vehicles, seven BEVs, and seven light commercial vehicles. 

Mahindra has not revealed any plans for hybrid vehicles as of yet, however, that can change in the future provided there is consumer demand for it.

Mahindra has already collaborated with Volkswagen to equip its INGLO platform with electric components from the German manufacturer’s MEB platform. Battery cell production is a different direction, that sees possibilities of different applications. Ola Electric is already working on introducing its own indigenously developed 4680 battery cells, about which you can read more about here.