Platform Busines News Today

Under the agreement, Mahindra will become the first external partner to use Volkswagen’s “groundbreaking unified cell concept”, the core element of its battery strategy, the two companies said in a joint statement

Mahindra becomes the first external automaker to utilize Volkswagen's unified cell concept, which is an important part of its battery strategy

Shares of Mahindra & Mahindra (M&M) hit a record high in early trade today after Volkswagen inked a supply agreement for electric components of Volkswagen´s MEB and unified cells for use in the Indian firm’s electric platform INGLO. M&M shares rose 6% to a high of Rs 1864.65 against the previous close of Rs 1765.55 on BSE. Market cap of the firm rose to Rs 2.29 lakh crore.