Mahindra & Mahindra today announced a strategic partnership with Renesas, a supplier of advanced semiconductor solutions, under which the latter will become the official technology partner for its Formula E team, while also working together on electric racing and road cars.
Through this partnership, both organisations will leverage their mutual strengths to expand the development and manufacturing of electric vehicles (EVs), powertrain, advanced driver assistance systems, and other systems in India and other emerging markets, the company said in a statement.
Both parties will work together across a number of programmes inclusive of ‘proof-of-concept’ systems for both racing and road cars, it added.
This will be in line with Mahindra’s ‘race to road’ story of the electric vehicle development that the Formula E platform delivers, the statement said.
Commenting on the development, Mahindra & Mahindra (M&M) Managing Director Pawan Goenka said, “Formula E is helping to grow Mahindra’s EV technology and expertise, and this new strategic partnership with Renesas will only help to accelerate our learning curve.”
M&M is looking forward to leveraging on the automotive semiconductor expertise of Renesas as it increases thrust in Formula-E and continue to play a pioneering role in the fast growing Indian EV market, he added.
Renesas Electronics Corporation Executive Vice President Ryuji Omura said India is one of the company’s focus markets and is expected to bring about significant business growth for it, particularly for the EV segment.
News Source : Business Line