Open EV consortium MIH announced on October 26 that it will license the hardware and software platforms of Project X to commercial EV solutions provider M Mobility. MIH unveiled the concept car of Project X and secured a license partner within a short time, showing its ambition for commercialization.
Sources said MIH will only license the hardware and software platforms, not the supply chain. The consortium will assist M Mobility in developing the vehicle. The profit model is still under discussion.
M Mobility, strategically invested by Indian IT service provider Tech Mahindra, targets the Japanese, Indian, and Thai markets. M Mobility has formed a partnership with Hakobune, a Sumitomo affiliate. Hakobune focuses on EV and energy management, offering charging services for electric shuttle buses of companies and charging equipment. Therefore, the licensing of Project X is expected to generate many business opportunities.
Initiated by Foxconn in 2020, MIH aims to build an open EV ecosystem to facilitate collaboration in the mobility sector. How the consortium can create tangible benefits has been the focus of its members and those considering joining.
Sources said most industry groups aim to establish shared standards and develop cutting-edge technology, allowing members to receive the information of regulation and technique first. While MIH hopes to help suppliers access more markets, it will encounter significant challenges as countries intend to put more resources into developing EVs and localize production.
Licensing Project X to M Mobility means MIH will reach the milestone of commercializing its technology. As licensing and assisted development business models mature, MIH members will see more opportunities.
