Mahindra Electric Mobility Ltd, a part of the $20.7 billion Mahindra Group, is planning to go global and export its indigenously developed EV technology products and solution to overseas markets such as Europe and South Korea. Mahindra Electric CEO Mahesh Babu said the company plans to supply products such as vehicle control unit and powertrain to SsangYong Motor Company, which is Mahindra Group company in South Korea.
“Through SsangYong, our technologies are going to go to Europe, we are already engaged with some of our partners in Europe, with whom we are in talks to supply our technology (products) like powertrain, battery packs and power electronics,” said Babu. “Our aim now is to have a global ambition to reach to multiple players across the globe. If somebody wants to import our Treo (electric three-wheeler) and then wants to sell it in Europe, in the US or in developing countries, we are open (to that as well).”
In a motor vehicle, the powertrain comprises the main components that generate power and deliver that power to the road surface, water, or air.
Mahindra Electric Mobility on Thursday also unveiled a new corporate brand identity with a new logo and tagline - ‘Spark the New’. The new brand is meant to give the brand a renewed thrust to achieve its global ambition of being a leading player in electric mobility technology solutions.
Experts say traditional automakers are making investments in new-age companies because with autonomous driving, electrification and shared services, the car industry is going through a massive shift. Also firms like Tesla, Google and Apple are becoming the new competitors for traditional players such as Daimler and Hyundai. Babu said what differentiates Mahindra Electric Mobility from global competitors is its technology and variety.
The Mahindra Group has one of the most diversified portfolios of electric vehicles with the e2oPlus hatch, the eVerito sedan and the eSupro mini-van and Mahindra Treo range of three-wheelers.
“There is a clear scalability advantage for Mahindra, because we (make products) from three-wheelers to buses, which is very unique,” said Babu. “More than the competition, I think collaborations and partnerships are more important (which) I strongly believe are possible at this stage for the near future.”
The firm said it has completed over 200 million electric kilometres by Mahindra EVs (electric vehicles) on Indian road. The 200 million-plus e-kilometres done by Mahindra’s electric vehicles has helped save over 22,000 metric tons of CO2 emissions in India. This translates into the need to plant over 10 lakh trees to absorb the equivalent levels of emissions. The insights from the data is also helping the company to customise its EVs as per the conditions and requirements of different locations. “We are talking about the learnings from... various locations such as altitude and temperatures across India. How your car can behave differently when it is in Delhi in summer versus Bengaluru,” said Babu. “So, there are technological trends we are working on where we will use our knowledge (gained from) 200 million kilometres and create customized (vehicles).”
The company is also planning to set up a research and development centre in Bengaluru in the next 18-24 months. The facility would focus on creating intellectual property in the electric mobility space. “We strongly believe that electric mobility is a platform where India cannot lag behind in technology when compared to the global players and luckily in Bengaluru we have software engineers and most of the EVs are about software integrating into hardware in a very efficient way,” said Babu.
Interest in India’s fledgling electric vehicles industry is getting super hot with the government pushing for the segment in order to curb pollution and reduce reliance on import-dependent fossil fuel. Many large traditional vehicle makers, as well as startups, are now betting big on this space. Last week, TVS Motor Company, the manufacturer of two-wheelers and three-wheelers, announced its foray into electric mobility with the launch of the scooter TVS iQube Electric in Bengaluru.
The India electric vehicle ecosystem market is expected to reach $216.3 billion by 2030, according to a report by BIS Research. The government target for 30 per cent adoption of electric vehicles by 2030 is expected to be majorly driven by the electrification of two-wheeler, three-wheeler, and commercial vehicles