The alliance is designed to leverage each other’s strength in areas such as mobility, connected vehicles, elec... Read More

NEW DELHI: Mahindra Group and Ford Motor on Monday agreed to explore a strategic alliance, designed to leverage each other’s strength in areas such as mobility, connected vehicles, electric vehicles product development and distribution within India and abroad.

The companies said that they aim to gain from the “benefits of Ford’s global reach and expertise and Mahindra’s scale in India and successful operating model”.

The agreement, they said, will allow each to leverage their mutual strengths “during a period of unprecedented transformation in the global automotive industry.”

TOI was the first to report on an impending deal between the two companies in its edition of March 3.

Teams from both companies will collaborate and work together for a period of up to three years. Any further strategic cooperation between the two companies will be decided at the end of that period, the companies said.

“Ford is committed to India and this alliance can help us deliver the best vehicles and services to customers while profitably growing in the world’s fifth largest vehicle market,” said Jim Farley, Ford VP and president of Global Markets.

“Our two companies have a long history of cooperation and mutual respect. The memorandum of understanding we have signed today with Mahindra will allow us to work together to take advantage of the changes coming in the auto industry. The enormous growth potential in the utility market and the growing importance of mobility and affordable battery electric vehicles are all aligned with our strategic priorities.”

Pawan Goenka, MD of Mahindra and Mahindra Ltd , said, “The changes facing the automotive industry globally are triggered by the accelerated rise of new technologies, sustainability policies and new models of urban shared mobility. Given these changes, we see the need to anticipate new market trends, explore alternatives and look for ways to collaborate even as we compete and build powerful synergies that will allow rapid exploitation of the exciting new opportunities. Today’s announcement builds on the foundation laid through our past partnership with Ford and will open opportunities for both of us.”



In Video: Ford, M&M enter into strategic alliance for electric vehicles