Mahindra group may join hands with global players for cell production in India: MD Anish Shah
Mahindra Group is looking for partnerships with global players for local production of battery cells in order to cater to expected increase in demand for electric vehicles in the future, according to a top company executive. In an interaction with PTI, Mahindra Group MD and CEO Anish Shah said the company is looking at a 2030 timeframe for the possible listing of its electric vehicle arm Mahindra Electric Automobile Ltd (MEAL).
«One area that we continue to look at more closely is cell manufacturing and that is something where there are various considerations… if we feel it's essential for us, we will look at a partnership for cell manufacturing,» he stated.
He further said: «We will look at a global technology partner, and potentially at private equity partners as well because we will not put the entire capital.» The initiative, if it materialises, would enable local production of battery cells in India, Shah said.
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"..the only reason for us to do it is to indigenise in India. Therefore, if we go down that path, it will be in India," he said when asked if the production facility would come up in the country.
On plans to list MEAL, Shah stated that it is not going to happen in the next three-five years at least.
Electric segment needs time to take off, he stated.
«So this is something that we will probably look at in the 2030 timeframe or so,» Shah noted.
He noted that the country has shown the ability to leapfrog
