Mahindra & Mahindra (M&M) on Wednesday said it has signed a deal with Tel Aviv-based REE Automotive to explore the production of electric commercial vehicles.
M&M firm has signed a memorandum of understanding (MOU) with the Israel based firm to explore the development and manufacturing of electric commercial vehicles to cater to global markets.
The strategic alliance will power REE’s revolutionary electric vehicle corner module and platform technology of integrating powertrain, suspension and steering components in the curve of a vehicle wheel.
Mahindra said this memorandum of understanding (MoU) will help it to use REE Automotive’s corner modular platform technology to integrate powertrain, suspension and steering components in the arch of a vehicle wheel. On the other hand, REE will benefit from Mahindra’s vehicle design, engineering, manufacturing and overall global presence.
The coalition will help to cater to REE’s global customer requirements for 200,000-250,000 electric commercial vehicle units over a few years, including potential Mahindra’s domestic and international volumes. Production would be increased further to boost additional volume in the global and Indian markets.
Rajesh Jejurikar, Executive Director (Auto and Farm Sectors), Mahindra & Mahindra, said, “The competitive advantages of REE’s corner modular architecture with our experience in conventional vehicle system design, engineering, sourcing ecosystem and significant manufacturing capacity, renders a perfect match to provide exciting zero-emission vehicles, comprising autonomous vehicles, that can meet customer requirements as never before.”
Daniel Barel, REE Co-founder and Chief Executive Officer, said, “We are excited to partner with Mahindra to explore synergies that will allow us to address our customers’ needs based on Mahindra’s footprint and capabilities. 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.”
REE’s architecture will enhance Mahindra’s capabilities in the electric vehicle sector. REE will leverage Mahindra’s global presence and its unique volume flexibility capability as well as its engineering and product development expertise.