Partnership to leverage REE’s modular platform technology and Mahindra’s vehicle design and manufacturing assets
Mahindra & Mahindra, part of US$ 19.4bn Mahindra Group, and Israel’s REE Automotive recently signed a memorandum of understanding (MoU) to explore development and manufacturing of electric commercial vehicles for global markets, according to a joint press statement.
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.
This coupled with Mahindra’s well-established vehicle design, engineering, sourcing capability and manufacturing assets, is set to be a win-win strategic partnership for both companies.
The partnership will support REE’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years.
“The competitive advantages of REE’s corner modular architecture with our experience in conventional vehicle system design provide a perfect match to deliver exciting zero emission vehicles, including autonomous vehicles that can meet customer needs as never before,” remarked Rajesh Jejurikar, Executive Director (Auto and Farm Sectors), Mahindra & Mahindra.
“Mahindra’s unique cost structure, design and engineering capabilities and volume flexibility will be key to our ability to address the majority of the commercial EV market with both large volume vehicles as well as more targeted mission-specific vehicles,” commented Daniel Barel, Co-founder and CEO, REE.
REE’s transformational technology is designed for current and future e-mobility applications, including autonomous vehicles, and offers significant benefits in terms of weight, space and total body design flexibility, the press release concluded.
