MAHINDRA & RENESAS LAUNCH FORMULA E TECHNICAL PARTNERSHIP
Hong Kong, November 30, 2017 ― Mahindra & Mahindra, Ltd. a pioneer in the development of electric vehicles, and Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the formation of a strategic partnership with Renesas as the official technology partner of the Mahindra Racing Formula E team.
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.
Dr. Pawan Goenka, Managing Director, Mahindra & Mahindra Limited 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.”
Mr. Ryuji Omura, Executive Vice President of Renesas Electronics Corporation 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.”
As the leading global automotive semiconductor supplier, Renesas includes EVs as one of their core automotive businesses and develops comprehensive solutions for them around its Renesas autonomy Platform introduced earlier this year. Renesas autonomy is an open, innovative and trusted platform which aims to accelerate the development of self-driving electric and connected vehicles for consumer adoption. It includes core technologies that are essential in the development of EVs, including motor and inverter control systems and battery management.