Ford Motor Co and Mahindra & Mahindra will form a joint venture company in India valued at $275 million that will develop, market and distribute Ford branded vehicles in the country, the two companies said on Tuesday. The two companies have for months been negotiating the deal, which will see Ford hold a 49% stake in the new entity, while Indian rival Mahindra will own 51%, Reuters reported in April. India's autos market is dominated by Asian automakers like Suzuki Motor Corp and Hyundai Motor
Ford Motor Co and Mahindra & Mahindra are likely to sign a deal next week to form a joint venture in India, two sources told Reuters, in a move that will see the U.S. carmaker end most of its independent operations in the country. The two companies have for months been structuring the deal to create a new entity in which Ford will hold a 49% stake, while Indian rival Mahindra will own 51%, Reuters reported in April. Under the deal Ford will transfer most of its automotive assets and employees
'It's like a partial exit,' one source says
An EV Roxor is in the works, and so is an automatic transmission.
Mahindra licensed the original Willys Jeep design years ago.
The PF0 Concept will boast massive horsepower and a mega price
Indian automaker Mahindra has announced the launch of Automobili Pininfarina, a new standalone sustainable luxury vehicle brand, with plans for a new electric hypercar in 2020.
We've already posted a few spy shots of different companies' ideas for the new United States Postal Service mail truck. One of the six companies that were awarded prototype-building contracts is the Indian Mahindra, which is eager to gain a foothold in the U.S. no matter what the niche. Now, Mahindra's mail truck prototype has been spied tes
Ford has announced that it will co-develop an SUV with Mahindra, the Indian manufacturer of tractors, EVs, and most importantly for this story, trucks. The new SUV will use a Mahindra platform, and it's implied that Ford will do the heavy lifting on the rest of the vehicle. The two companies will also develop an electric vehicle, perhaps with input or branding with Mahindra's Pininfarina subsidiary.
A little while ago we wrote about ItalDesign's Zerouno supercar, which is sold under the company's own brand name. Another design house, Pininfarina, will also become a carmaker brand, as it prepares to launch a hypercar with Mahindra investments backing it up.
It should be a hoot on trails.
Mahindra is a major tractor manufacturer and has been building EVs for years.
Does any of this sound familiar?
It's a win-win for two big global players.