In a pivotal move accelerating India’s electric mobility revolution, Mahindra & Mahindra (M&M) has made a monumental deal with Valeo, a leading name in mobility technology. The agreement, valued at nearly $1 billion, was discreetly embedded in Valeo’s Q3 results and involves the supply of electric powertrains for a select range of M&M’s ‘Born Electric’ passenger vehicle platform and onboard charger combo for electric utility vehicles.
M&M’s ‘Born Electric’ initiative stands as a beacon of their commitment to leading the electric mobility charge in India. Melding Brand, Design, and Technology, M&M’s vision is crystallising into authentic electric SUVs, poised to reshape the landscape of sustainable transportation.
Valeo, a formidable figure in powertrain electrification globally, is set to channel investments into the heart of Maharashtra, aligning with M&M’s Pune plant. This strategic move is geared toward localising the production of the electric powertrain in India—a comprehensive system inclusive of the electric motor, inverter, gearbox, and an integrated 3-in-1 bi-directional Combo power electronics unit, seamlessly integrating the Onboard Charger (OBC), DC-DC converter, and Power Distribution Unit (PDU).
Xavier Dupont, President of Valeo Powertrain Systems Business Group, underscored Valeo’s staunch belief in electrification as the future of mobility. He remarked, “We have developed best-in-class technologies to support the growing demand of our clients. Our locally developed solutions will empower Mahindra & Mahindra to offer Indian customers electric vehicles with higher voltages and longer range. This partnership marks a major leap for Valeo in the dynamic Indian EV market.”
Jayakumar G, Group President & Managing Director, Valeo India, expressed pride in their collaboration with M&M. He emphasised Valeo’s commitment to localising production, signalling the commencement of a broader strategy to gear up for the impending EV revolution in India. G conveyed gratitude to M&M’s management for instilling trust in Valeo, indicating this partnership is only the starting point for Valeo’s role in fostering greener and safer mobility.
Vinod Sahay, President and Chief Purchase Officer of Mahindra & Mahindra Ltd., outlined the company’s vision to spearhead the global electric mobility revolution. Sahay stressed the significance of the collaboration with Valeo in realising this ambitious electric vision. He underscored the localization of technology solutions as a bold move, solidifying the commitment to electrify the Indian market.
R Velusamy, President of Automotive Technology and Product Development at Mahindra & Mahindra Ltd., drew attention to the alignment of the collaboration with the ‘Born Electric’ vision. Velusamy highlighted Valeo’s electrification technology as a perfect match for Mahindra’s purpose-built INGLO platform—an integral component of Mahindra’s EV architecture and human-machine interface. He positioned this partnership as a substantial stride towards delivering sustainable, cutting-edge mobility solutions not only in India but on a global scale.
This collaboration signifies a colossal milestone in the electric vehicle sector, amalgamating the expertise of two industry leaders poised to reshape the future of sustainable and eco-conscious transportation. The $1 billion deal between Valeo and Mahindra & Mahindra stands as a testament to the unwavering commitment of both entities to pioneer innovation in the electric mobility sphere. As the electric mobility landscape continues its evolution, this partnership is poised to play a pivotal role in steering the course towards a greener and safer future—a narrative in perfect harmony with the global shift towards sustainable transportation solutions.