Top auto makers form alliance for an electric car
1 min read 08 Feb 2016, 11:01 AM ISTMaruti along with Tata Motors and M&M have formed an alliance to jointly develop parts for an electric-hybrid car
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New Delhi: India’s largest car maker Maruti Suzuki India Ltd along with two home-grown companies Tata Motors Ltd and Mahindra and Mahindra Ltd (M&M) have formed an alliance to jointly develop parts for an electric-hybrid car, the Business Standard newspaper reported on Monday.
These companies “are seeking one another’s expertise in areas like motor, transmission and other components to develop solutions for captive use later", the report said, quoting Arvind Mathew, chief executive of Mahindra Reva India Pvt. Ltd, the electric vehicle arm of M&M.
Mint could not reach Mathew for comments at the time of the publishing of the report.
These companies first came together in 2009 to develop technology for electric and hybrid vehicles.
The alliance will invest up to ₹ 25 crore into the project, while the government under its FAME (Faster Adoption and Manufacturing of Electric and Hybrid vehicle) project will also invest an equal amount.
