Home Auto Makers Mahindra, REE sign MoU for development of electric CVs

Mahindra, REE sign MoU for development of electric CVs

Mahindra & Mahindra and REE Automotive signed a memorandum of understanding (MoU) on August 26 to explore development and manufacturing of electric commercial vehicles for global markets.

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. This coupled with Mahindra’s well-established vehicle design, engineering, sourcing capability and manufacturing assets, is set to be a win-win strategic partnership for both companies, said a press release issued by M&M.

The partnership will support REE’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including potential Mahindra’s domestic and international volumes.

“Our collaboration with REE has the potential to bring a disruptive approach to a new age of vehicles capitalising on our respective strengths,” said Mr Rajesh Jejurikar, Executive Director (Auto and Farm Sectors), Mahindra & Mahindra. “ Mr Daniel Barel, REE Co-founder and CEO, commented: “We are excited to partner with Mahindra to explore synergies that will allow us to address our customers’ needs based on Mahindra’s footprint and capabilities. 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.”

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