Home-grown utility vehicle manufacturer Mahindra & Mahindra has decided to provide support to South Korean subsidiary SsangYong’s electric vehicle business despite not being able to make profits as per reports. Mahindra is using the new MESMA 350 platform to develop electric SUVs and as per claims, it has built a new electric powertrain that can be useful in converting exiting ICE (Internal Combustion Engine) vehicle. The company has announced that they will supply them to the Korean brand, SsangYong, as per their requirement.
Mahindra Electric’s CEO, Mahesh Babu, announced back in January 2020 that the company is working on a 350V powertrain that will be exported to South Korea and Europe and will be used by SsangYong in its new electric vehicle. However, SsangYong has been in financial trouble since then and therefore has applied for receivership in a bankruptcy court of South Korea. On the other hand, Mahindra was in search of a potential buyer.
Despite the current situation of SsangYong, Mahindra plans to supply EV technology to the Korean brand. This has surprised everyone and has made people wonder if the Indian company has changed its strategy towards electric vehicles for the South Korean brand. Mahindra hasn’t made any official announcement regarding this yet.
The main focus of Mahindra and Mahindra is towards shared and last-mile connectivity in regards to the electric vehicles in the Indian market. The Treo and Treo Zor have been already launched by the company for the passenger and goods transport sector respectively. Mahindra also announced that Rs.500 Crores investment was made to set up new EV technology and R&D centre near the Bengaluru airport last year.
Get more stuff like this
in your inbox
Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
Thank you for subscribing.
Something went wrong.