 "Anish Shah")
India's Mahindra & Mahindra could consider investing in a battery-cell company to meet future electrification needs, its CEO said, after the company raised funds for its new electric vehicle (EV) unit at a $9.1 billion valuation.
Mahindra on Thursday raised $250 million from British International Investment for the unit and is exploring a partnership with Volkswagen AG to source such EV components as batteries and motors.
While the Volkswagen deal would meet Mahindra's "short to medium term" battery needs, Mahindra CEO Anish Shah said the company was open to looking at some sort of "investment with a global leader" in the
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