AUTO NEWS - Ford And Mahindra's Partnership Between The Two Companies Will Not Grow Further

Companies have said in separate statements that the decision is inspired by the changes in the world economy seen in the last 15 months, due to which both have focused on their capital allocation priorities.

AUTO NEWS INDIA

Mahindra and Ford have announced that the joint venture between the two companies in India will not be continued. The companies said in separate statements that the decision was driven by changes in the global economy in the last 15 months, due to which both of them focused on their capital allocation priorities. In 2019, Ford and Mahindra said that they would form a partnership in India to cut the cost of development and production of vehicles for emerging markets. So now after this new decision, there will be no cooperation between the two?

It's not like this. Mahindra has already signed a collaboration with Ford to share the platform and even the engine and it was called Project Black. Mahindra's auto and farm sector executive director, Rajesh Jejurikar said, "Our joint venture plans have come to an end, but we can still collaborate with Ford. In fact, we are looking for partners in the electric segment and there is also a possibility of sharing platforms and engines where the two companies can work together. ”

Mahindra MD Dr Pawan Goenka said the company was not bound by any agreement that was signed earlier "We signed cooperation in 5 areas. The first was the development of the C601 platform that will continue to work. Second, EcoSport A lot of work has been done on the BS6 petrol engine for it as well. The third was connectivity and it already exists with cars like the XUV500. The fourth was in the area of ​​mobility services and has already been stopped. Finally , The Aspire was an electric car and that work was also halted because the investment was too large and did not fit Mahindra's EV strategy. "

If you liked this article, share it with your friends and subscribe to our blog to read more such articles and stay connected with us on FacebookTwitter, and Instagram for new updates.

Comments