Mahindra collaborates with Israel’s REE Automotive to develop electric commercial vehicles
Such a strategic collaboration will leverage REE’s revolutionary electric vehicle corner module and platform technology of integrating powertrain, suspension and steering components in the arch of a vehicle wheel.
Mahindra & Mahindra and REE Automotive recently announced signing a memorandum of understanding (MOU) to explore the development and manufacturing of electric commercial vehicles that will retail across global markets. In what REE Automotive brings to the table is its electric vehicle corner module and platform technology that allows integration of powertrain, suspension and steering components in the arch of a vehicle wheel. On its part, Mahindra will contribute to the collaboration through its vehicle design experience, engineering, sourcing capability and manufacturing assets.
REE Automotive estimates a global customer demand for 200,000-250,000 units of its electric commercial vehicles over the next few years. This includes potential Mahindra’s domestic and international volumes. Should there be a need, the companies will scale production further to support additional volume in India and international markets.
The competitive advantages of REE’s corner modular architecture with our experience in conventional vehicle system design, engineering, sourcing ecosystem and significant production capacity, provides a perfect match to deliver exciting zero-emission vehicles, including autonomous vehicles, that can meet customer needs as never before, Rajesh Jejurikar, Executive Director (Auto and Farm Sectors), Mahindra & Mahindra, said.
Also read: Up to Rs 1.5 lakh subsidy for Delhi electric vehicle buyers under Kejriwal’s new EV policy
A collaboration with REE Automotive will enhance Mahindra’s capabilities in the electric vehicle sector through REE’s EV architecture. In return, REE benefits from Mahindra’s global presence and its flexible volume capability, along with its experience in engineering and product development.
Mahindra’s unique cost structure, design and engineering capabilities and volume flexibility will be key to our ability to address the majority of the commercial EV market with both large-volume vehicles as well as more targeted mission-specific vehicles, said Daniel Barel, REE Co-founder and Chief Executive Officer, adding: “Having a partner like Mahindra joining our growing OEM partners’ network will allow us to drive our EV technology faster and at scale”.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds,
calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.