Mahindra & Mahindra, part of USD 19.4 billion Mahindra Group, and REE Automotive signed a memorandum of understanding (MOU) 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.
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.
Production would be scaled further to support additional volume in the global as well as Indian market.
REE’s architecture will enhance Mahindra’s capabilities in the electric vehicle sector. REE will leverage Mahindra’s global presence and its unique volume flexibility capability as well as its engineering and product development expertise.
The competitive advantages of REE’s corner modular architecture with Mahindra’s experience in conventional vehicle system design, engineering, sourcing ecosystem and significant production capacity, provides a perfect match to deliver exciting zero emission vehicles, including autonomous vehicles, that can meet customer needs as never before.
This is a Syndicate News Feed, edited by Clean-Future Team