Ford India to create joint venture with Mahindra
Ford and Mahindra and Mahindra will form a joint venture in India. Ford and Mahindra first struck a strategic alliance in 2017, with the new joint venture the next step for the two companies.
Ford will retain its engine plant operations in Sanand as well as the Global Business Services unit, Ford Credit, and Ford Smart Mobility.
Mahindra will manage the new company with equal amounts of Mahinda and Ford representatives on the governance board.
The venture will help grow the Ford brand in India as well as exporting Indian-built Ford products around the world. Ford will still sell its own vehicles in the country, as will Mahindra. Initially, the new venture will introduce three new utility vehicles under the Ford brand, starting with a new midsize SUV that will have a common Mahindra platform and powertrain. EVs will be a point of focus as well.