Mahindra up to $9b backing & VW Term Sheets:
Mahindra intends to equip its “Born Electric Platform” with MEB electric components such as electric motors, battery system components and battery cells.
https://www.volkswagenag.com/en/news/2022/05/volkswagen-and-mahindra-sign-partnering-agreement-for-meb-electr.html#
"With a plan to invest over USD 1 billion in electric vehicle ambition, Mahindra in July raised INR 1,925 crores (USD 250 million) at a valuation of up to INR 70,070 crores (USD 9.1 billion) from British International Investment, the UK's Development Finance Institution, into its electric four wheeler business."
"In addition, the two companies will explore further opportunities for collaboration, opening the perspective towards a broader strategic alliance to accelerate the electrification of the Indian automotive market," said the statement."
" With LFP chemistry, Mahindra electric vehicles will follow a common battery pack design...."
https://www.google.com/amp/s/auto.economictimes.indiatimes.com/amp/news/passenger-vehicle/uv/mahindra-unveils-5-e-suvs-launch-to-begin-by-dec-2024/93573680
Umicore supplied cathode & anodes to Mahindra E-Formula.
Also battery recycling for the entire E-Formula race cars.
DB said in a couple videos back --- " & possibly India".