September 26, 2020

Mahindra inks pacts with Israeli agency to develop electrical industrial automobiles

Mahindra & Mahindra (M&M) on Wednesday mentioned it has inked a pact with Tel Aviv-based REE Automotive to discover manufacturing of electrical industrial automobiles. The Mumbai-based agency has signed a memorandum of understanding (MOU) with the startup to discover improvement and manufacturing of electrical industrial automobiles for world markets, M&M mentioned in an announcement.

The strategic collaboration will leverage REE’s revolutionary electrical automobile nook module and platform expertise of integrating powertrain, suspension and steering elements within the arch of a automobile wheel, it added.

This coupled with Mahindra’s well-established automobile design, engineering, sourcing functionality and manufacturing belongings, is about to be a win-win strategic partnership for each corporations, M&M famous.

The partnership will help REE’s world buyer want for 2-2.5 lakh electrical industrial automobile models over a couple of years, together with any volumes for Mahindra’s home and worldwide markets, it added.

Manufacturing can be scaled additional to help extra quantity within the world in addition to Indian market, the automaker mentioned.

“Our collaboration with REE has the potential to deliver a disruptive strategy to a brand new age of automobiles capitalising on our respective strengths,” M&M Govt Director (Auto and Farm Sectors) Rajesh Jejurikar mentioned.

The aggressive benefits of REE’s nook modular structure with M&M’s expertise in standard automobile system design, engineering, sourcing ecosystem and important manufacturing capability, supplies an ideal match to ship zero emission automobiles, together with autonomous automobiles, that may meet buyer wants as by no means earlier than, he added.

REE Co-founder and Chief Govt Officer Daniel Barel mentioned Mahindra’s distinctive price construction, design and engineering capabilities and quantity flexibility will likely be key to the corporate’s means to deal with nearly all of the industrial EV market with each massive quantity automobiles in addition to extra focused mission-specific automobiles.

“Having a accomplice like Mahindra becoming a member of our rising OEM companions community will permit us to drive our EV expertise quicker and at scale,” he added.