Mahindra and Mahindra has announced a strategic partnership for Formula E with Japan's Reneses Electronics Corporation. Reneses is a supplier of advanced semi-conductor solutions will come on-board as a technology partner for the Mahindra Racing Formula E team. The partnership comes as part of the Indian automaker's 'race to road' strategy for electric vehicle development via Formula E. Both companies will work together across a host of programmes including the 'proof-of-concept' system for both and road cars.
Speaking on the tie-up, Dr. Pawan Goenka, Managing Director, Mahindra & Mahindra and Chairman of Mahindra Racing UK said, "We are delighted to welcome Renesas as a key technical partner of the Mahindra Racing Formula E team as we start the fourth season of racing. 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. We look forward to working with Renesas and leveraging their automotive semiconductor expertise as we increase our thrust in Formula-E and continue to play a pioneering role in the fast growing Indian EV market."
Mahindra and Reneses have also announced that both manufacturers will work together in the expansion of development and manufacturing of electric vehicles, powertrain, Advanced Driver Assistance Systems, and other systems in India and other emerging markets.
Renesis Electronics Corporation Executive Vice President, Ryuji Omura said, " India is one of our focus markets and is expected to bring about significant business growth for Renesas, 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 our new partnership with Mahindra, we look forward to bringing our design expertise based on our open and comprehensive Renesas autonomy Platform, to the Indian market. We are honored to sponsor the Mahindra Racing Formula E Team and look forward to enhancing the performance of Mahindra EVs and the company's racing team with our advanced semiconductor technologies."
Renesas has been developing components for EVs and is the leading global automotive supplier for semiconductors. The company is currently working on its autonomy platform, which was introduced earlier this year. The project aims to accelerate the development of self-driving electric and connected vehicles for consumers.
Mahindra, on the other hand, is actively working on introducing electric cars in India and overseas. The strategic partnership should also help the automaker not only with the Formula E team but also in the development of its upcoming electric vehicles. Mahindra has announced it will be introducing two new EVs in the country by the end of 2019.
