Mahindra asks others to Co-Owning Mahindra Electric

SMART NEWS:- Mahindra ready to Co-Owning Mahindra Electric

eXUV at Auto Expo 2020

In Order to make the Electric Vehicle (Mahindra Electric) more profitable and in a process to reduce the cost of electric vehicles the carmaker Mahindra is open to other manufacturers joining Mahindra Electric as Co-owners.

"It`s required that we collaborate in the back end and compete on the front end," Dr. Pawan Goenka told during press meet. and he is offering collaboration opportunity in Mahindra Electric to any carmaker that has an interest in electric mobility.

Facts: Mahindra Electric is a Mahindra Group Company that supplies electric powertrain; Currently, only supplies to M&M. 

"We need scale for electric vehicles, the cost to come down, and for EVs to become profitable. And if every manufacturer sets up their own, then we will never be able to reach that scale," says Dr. Goenka. This is not the first time that Dr. Goenka has batted for collaboration between/among companies, and there are others who share the same sentiment. Leadership team members at Ashok Leyland and Tata Motors, too, also see collaboration as a good route for growth.