NEW DELHI : India's Mahindra & Mahindra could consider investing in a battery-cell company to meet future electrification needs, its CEO said, after the company raised funds for its new electric vehicle unit at a $9.1 billion valuation.
"Our intent is not to get into batteries," Shah said in an interview."There are people who do it very well. We can partner with them; we could be a co-investor in some form. We don't need to own it and run it." Automakers are also wary of situations like the pandemic semiconductor shortage that lead to production stoppages. Many companies still face order backlogs because of supply problems.
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