Mahindra and Renesas Electronics Corporation have announced the formation of a strategic partnership with Renesas as the official technology partner of the Mahindra Racing Formula E team. Mahindra Racing is one of ten founding teams – and the only Indian team – to compete in the FIA Formula E Championship, the world’s first all-electric racing series.
Moreover, in line with Mahindra’s ‘race to road’ story of the electric vehicle development that the Formula E platform delivers, both parties will work together across a number of programmes inclusive of ‘proof-of-concept’ systems for both racing and road cars.
Through this strategic vision, both organizations will leverage their mutual strengths to expand the development and manufacturing of electric vehicles, powertrain, Advanced Driver Assistance Systems, and other systems in India and other emerging markets.
Formula E is helping to grow Mahindra’s EV technology and expertise, and this new strategic partnership with Renesas will only help to accelerate the company’s learning curve. For Renesas India is one of our focus markets and is expected to bring about significant business growth for the company, particularly for the EV segment.
The India government is working on a scheme to limit the cars sold in India to only electric vehicles by 2030, opening tremendous opportunities for the EV market. Through partnership with Mahindra, the company looks forward to bringing its design expertise based on its open and comprehensive Renesas autonomy™ Platform, to the Indian market.
Mahindra earlier this year has also signed a memorandum of understanding with Ford, under which both the companies will be working together leveraging their mutual strengths. Teams from both companies will collaborate and work together for a period of up to three years on mobility programs, connected vehicle projects, electrification etc.