M&M shines on signing supply agreement with Volkswagen

Mahindra & Mahindra Ltd. | Automobiles - Passenger Cars | Automobiles | BSE: 500520 | NSE: M&M

16 Feb 2024 Evaluate

Mahindra & Mahindra is currently trading at Rs. 1824.00, up by 58.45 points or 3.31% from its previous closing of Rs. 1765.55 on the BSE.

The scrip opened at Rs. 1790.00 and has touched a high and low of Rs. 1824.00 and Rs. 1776.35 respectively. So far 155296 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1858.00 on 16-Feb-2024 and a 52 week low of Rs. 1124.00 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 1858.00 and Rs. 1623.20 respectively. The current market cap of the company is Rs. 224270.42 crore.

The promoters holding in the company stood at 19.32%, while Institutions and Non-Institutions held 67.20% and 13.48% respectively.

Mahindra & Mahindra (M&M) and Volkswagen Group have signed the first supply agreement on components of Volkswagen’s MEB for Mahindra’s purpose-built electric platform INGLO, taking a definitive step further on their joint vision for e-mobility collaboration. The deal covers the supply of certain electric components as well as unified cells. With the agreement, Volkswagen and Mahindra are further deepening their collaboration which started with a partnering agreement and a term sheet in 2022. Both companies will continue to evaluate a potential expansion of the collaboration.

Mahindra will be the first external partner to use the groundbreaking unified cell concept, the core element of Volkswagens battery strategy. The supply agreement will run over several years and will have total volume of about 50 GWh over lifetime. Volkswagen Group and Mahindra aim to strengthen their e-mobility footprint in the Indian automotive market and to accelerate the electrification in the region. Mahindra plans to launch five all-electric SUVs in India based on its new, purpose-built electric platform INGLO, starting December 2024. With more than five million new vehicles per year in 2023, India is one of the largest automotive markets in the world. The electrification of the passenger car segment is expected to gain significant momentum in the coming years.

Volkswagen’s MEB platform and its components are used by the Group brands Volkswagen, Audi, Skoda and SEAT/CUPRA as well as external partners like Ford and Mahindra. The partnership with Mahindra is led by Volkswagen Group Technology and its ‘Platform Business’ unit in close cooperation with Skoda Auto Volkswagen India.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

Mahindra & Mahindra Share Price

3096.90 -54.00 (-1.71%)

30-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Tata MotorsPassenger	341.60
Maruti Suzuki	13312.85
Mahindra & Mahindra	3096.90
Hyundai Motor India	1818.80
Mercury Metals	31.41
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