Mahindra Electric to provide electric vehicle technology to subsidiary Ssangyong

Mahindra & Mahindra, a leading electric vehicle manufacturer in India, is now focusing on electrification of some of the models of its South Korean arm Ssangyong Motor. M&M subsidiary (Mahindra Electric) will sell some of the powertrains and electric parts to Ssangyong. Further, as a part of the strategy to broaden product portfolio, M&M will get into modern technologies with higher power voltage powertrains and higher range products.

M&M has earmarked an investment of Rs. 600 crore over the next two-three years to expand its electric vehicle production capacity from 500 to 5,000 units a month. M&M will also develop modern technologies and come up with an infrastructure to produce battery components. The company is looking to ink joint ventures in the field of power electronics and motors.

Also, M&M-Ford partnership is eyeing to launch electric sedan by end of 2018. Moreover, both companies are also looking to combine their sales and retail outlets across tier-3 and tier-4 cities in India.