SsangYong Motors to get support from Mahindra & Mahindra for electric vehicle(EV) business

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Mahindra & Mahindra Limited is an Indian multinational automotive manufacturing corporation headquartered in Mumbai, Maharashtra, India. It is one of the largest vehicle manufacturers by production in India and the largest manufacturer of tractors in the world. Mahindra & Mahindra is looking to support Korean car maker company SsangYong Motors in electric vehicle(EV) business. Mahindra plans to develop and supply electric SUV drivetrain on its MESMA 350 platform. This powertrain is suitable for converting existing ICE (internal combustion engine) vehicles to electric and for making ground-up EVs.

SsangYong Motor Company is the fourth largest South Korea-based automobile manufacturer, which is owned by Indian multinational automotive company Mahindra & Mahindra Limited. The Mumbai-based Mahindra & Mahindra holds a 75 % stake in the South Korean SUV manufacturer. SsangYong Motors has been in hiatus after December bankruptcy, as it failed to gain investor. The EV major has been in discussion with several companies globally for this platform as Mahindra Electric looks to de-risk its India business by supplying EV technology, especially for last mile connectivity. It showcased MESMA 350, scalable and modular architecture with 350 volt powertrain, at Auto Expo last year. The company informed that it will continue to support SsangYong Motors to develop and supply electric SUV drivetrain on MESMA 350 platform, based on their requirements. As far as India is concerned, with regards to EVs, the company’s major focus is towards shared and last-mile connectivity. The company has already launched the Treo and Treo Zor, which cater to the passenger and goods transport sector respectively. Last year Mahindra also said that it has earmarked an investment of Rs. 500 crore to set up new electric vehicle technology and R&D centre near the Bengaluru airport. Back in January 2020, Mahindra Electric’s CEO, announced that the company is working on a 350-volt powertrain which will be exported to South Korea and Europe, where the technology will be used by SsangYong in its new electric vehicle. However, since then, a lot of things have changed. SsangYong which has been in financial trouble recently applied for receivership in South Korea’s bankruptcy court, whereas Mahindra has been looking for a buyer for the South Korean brand. For now Mahindra will be supporting the Korean company in electric vehicle manufacturing process.

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