Wednesday, May 05, 2021
By Manoj Kumawat
SsangYong To Acquire Technology From Mahindra For EVs
According to recent reports the domestic carmaker Mahindra & Mahindra will share its new MESMA platform for manufacturing electric vehicles with its Korean subsidiary SsangYong. Few weeks back the homegrown carmaker Mahindra & Mahindra had announced that it will now focus only on developing electric SUVs in the Indian car market based on the new platform. According to the sources of Mahindra the new electric engine developed by Mahindra is capable of converting the existing internal combustion engine easily into electric vehicles.
The news regarding the sharing of EV technology to SsangYong is not new, as last year in January 2020, Mahesh Babu, CEO, Mahindra Electrics had said that the company is working on developing a 350-Volt engine which will be sent to its partners in South Korean and Europe. However, after that things have changed globally. The Korean company SsangYong is undergoing the financial crisis and has also applied for receivership in South Korea’s bankruptcy court. It would be interesting now to see if the Indian carmaker continues its support to its Korean subsidiary or not.?
Speaking about the company’s strategy for the Indian car market, the company is trying to make its reach across all the remote areas in the entire country. To achieve this objective the company has launched the Treo and Treo Zor to cater to the needs of passenger and goods transporting vehicles. The company had also made an investment of Rs 500 crore for establishing a R&D center in Bengaluru to develop new technology of electric vehicles.