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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.