This, coupled with Mahindra's well-established vehicle design, engineering, sourcing capability and manufacturing assets, is set to be a win-win strategic partnership for both companies, M&M noted.
The partnership will support REE's global customer need for up to 250,000 electric commercial vehicle
units over a few years, including any volumes for Mahindra's domestic and international markets, it added.
"Our collaboration with REE has the potential to bring a disruptive approach to a new age of vehicles capitalising on our respective strengths," M&M Executive Director (Auto and Farm Sectors) Rajesh Jejurikar said.
REE Co-founder and Chief Executive Officer Daniel Barel said Mahindra's unique cost structure, design and engineering capabilities and volume flexibility will be key to the company's ability to address the majority of the commercial EV market with both large volume vehicles as well as more targeted mission-specific vehicles.