Mahindra on Thursday raised $250 million from British International Investment for the unit and is exploring a partnership with Volkswagen AG to source such EV components as batteries and motors.

Mahindra & Mahindra could consider investing in a battery-cell company to meet future electrification needs, its CEO said, after the company raised funds for its new electric vehicle (EV) unit at a $9.1 billion valuation.

While the Volkswagen deal would meet Mahindra's "short to medium term" battery needs, Mahindra CEO Anish Shah said the company was open to looking at some sort of "investment with a global leader" in the battery-cell space if it needed to secure future supplies.

"Our intent is not to get into (manufacturing) batteries," Shah said in an interview. "There are people who do it very well. We can partner with them; we could be a co-investor in some form. We don't need to own it and run it."

Mahindra plans to launch five electric sport-utility vehicles (SUVs) over the next few years. These models are expected to contribute up to 30%, or about 200,000 units, of its total annual SUV sales by March 2027.

Growing demand for EVs and disruption of supply chains across the globe are pushing automakers to look at ways of having greater control over supplies and costs. Some carmakers are spending billions of dollars on mines and factories for motors and batteries - a departure from years of relying solely on suppliers.

Automakers are also wary of situations like the pandemic semiconductor shortage that lead to production stoppages. Many companies still face order backlogs because of supply problems.

Shah said that, except for batteries and motors, most of components for EVs were not very different from those of combustion-engine cars and Mahindra produced a majority of those parts in-house.

"If we can get an agreement like we have with Volkswagen to secure (battery) supplies, that's what we will do. If there's some investment we need to make to secure those supplies, we will do that," he said.

Mahindra's plans come as Indian companies seek to capitalise on billions of dollars worth of incentives being offered by the government to build EVs, part of a policy to meet national climate change and carbon reduction goals.

India's EV market, dominated by local carmaker Tata Motors, represents only 1% of the country's annual sales of about 3 million vehicles. The government wants this to grow to 30% by 2030.

Source:Reuters

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Mahindra will focus more on electric vehicles in the coming days, as the company announced today the establishment of an advanced design center in the United Kingdom.

In the United Kingdom, Mahindra Advanced Design Europe (MADE) is being established for mobility products. The new design center, which will be located in the West Midlands, will be operational on July 1, 2021.

According to a statement released today by Mahindra and Mahindra, the new design center and a new Centre of Excellence will be part of the group's global design network, which also includes the Mahindra Design Studio in Mumbai and Pininfarina Design in Turin, Italy.

According to Rajesh Jejurikar, Executive Director at Mahindra and Mahindra, "Significantly strengthening design capability across automotive, farm equipment, and two-wheelers globally is a key lever for making the business future-ready. MADE will contribute to all future automotive and mobility products, including Born EV SUVs, and will serve as a resource for Mahindra group companies."

Mahindra also stated that the new design center will support the creation of highly skilled design roles by bringing in students from Coventry University, the Royal College of Art, and other design colleges in the UK and Europe.

"MADE is a strategic enhancement of Mahindra's global design capabilities and renews its commitment to bring sophisticated, authentic SUVs with an unmistakable presence to its customers," Mahindra Group said in a statement.

The Mahindra Group anticipates that the new design center in the United Kingdom will provide a quantum leap in both capacity and capability in the design space. It also anticipates that the new design center will "sharpen Mahindra's distinctive product designs" and provide improved technology to improve safety and efficiency in connected car experiences.

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India’s highest-selling Lithium-ion electric auto is now in Nepal. Mahindra Electric Mobility Limited, part of the Mahindra Group, has recently launched a Lithium-ion-powered electric three-wheeler auto called Treo in Nepal on October 26, 2021, at Hyatt Regency Kathmandu.

Price:

The Mahindra Treo Auto “Soft Top” variant has been introduced at the price of NPR 8,40,000, ex-showroom.

Agni Energy, Mahindra's authorized EV distributor, will sell the Treo in Nepal with which customers stand to save a significant NPR 2,00,000/year (when compared to petrol autos)

Speaking on the launch, Suman Mishra, CEO of Mahindra Electric Mobility Limited says, "Nepal is a fast-developing economy, with eco-friendliness as well as long term sustainability on its agenda. With the Nepal government promoting electric vehicles the time is just right for us to launch our range of electric three-wheelers here. Last-mile mobility products are a focus for Mahindra & Mahindra and the Treo auto is an embodiment of technology combined with sustainability, which will significantly enhance the livelihood of its owners with huge savings when compared with a conventional petrol auto”.

Performance:

The Mahindra Treo electric auto comes with a lithium-ion battery with a 1, 50,000+ kilometer battery life. It has the Best in industry power of 8kW and torque of 42 Nm.

Moreover, charging the Treo Auto is easy. You can just plug on the board charger to a 25amp socket at home. The Battery capacity is 7.7k3Wh and the charging time at standard condition is 3 hours and 50 mins. It has a useable driving range of 130km/charge

Transmission:

The Treo comes with a direct drive transmission. No charging gears or operating a clutch.

Features:

The highest wheelbase of 2,073 mm enables a spacious cabin that seats the driver and three passengers in good comfort.

Features like Telematics unit and GPS, windscreen and wiping system, spare wheel provision, Driving modes, Economy and Boost mode, Lockable glove box, hazard indicator, reverse buzzer, powerful headlamps, and robust suspension makes it a more comfortable ride for driver and passenger.

Design:

The Treo comes with a blue and white color scheme with dent-resistant, rust-free, modular SMC panels which provide ease of repair and replacement.

Warranty:

The Treo electric comes with a three-year or 80,000km warranty which is much higher than other autos in Nepal currently.

The Mahindra Treo is India's largest selling Lion electric auto platform with sales of 10,000+ vehicles and has covered more than 63 million kilometers, since its launch in 2018.

The Mahindra Treo comes to Nepal through the Completely Built Unit (CBU) form. The vehicle is being manufactured at Mahindra's Bengaluru facility in India.

Bookings for the ready-to-deliver Treo autos have started in select areas of southern Nepal's Terai region.

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