Mahindra signs deal with Volkswagen to receive electric vehicle components

Mahindra & Mahindra has signed a term sheet with Volkswagen Group under which it will receive components for its electric vehicles. The cooperation aims at parts for over 1 million vehicles till 2030 and includes equipment of 5 electric SUVs. Mahindra expects 20-30% of its total SUV sales from its electric models by March 2027.