On Thursday, an announcement was made by Mahindra and Ford, that the two auto majors have signed five memorandum of understanding (MoUs). This is a part of their strategic alliance forged in September 2017 with the two companies planning and developing products for consumer both within and outside the country.
Mahindra and Ford will now co-develop midsize and compact SUVs, electric vehicles and connected car solutions. The mid size sports utility vehicle – C-SUV will be positioned on the Mahindra platform but will be sold separately by both companies as separate brands.
Under the agreement, a compact SUV and electric vehicle are also being planned with Mahindra supplying the powertrains to Ford. Joint ventures into the connected car solutions are also on the cards which is a part of the Ford commitment to enable persons across the globe to travel at a safer and more connected pace.
The MoU is signed for a period of three years wherein teams from both companies will work together to address future mobility demands and extend support for Mahindra in global markets along with enhancing Ford’s manufacturing and distribution networks.
Dr Pawan Goenka, Managing Director, Mahindra and Mahindra Ltd, said, “Today’s announcement is the next step in the collaboration between Mahindra and Ford. Both teams are working together on joint development areas in keeping with industry requirements and leveraging mutual strengths. We are excited about the synergies unveiled through this collaboration and the potential opportunities it will bring.”
Jim Farley, Ford executive vice president and president of Global Markets, said, “Ford is committed to offering the best vehicles, technologies and services that fit the lifestyles and preferences of Indian consumers. Listening to our customers and incorporating their future needs is the core premise of this collaboration. With utility vehicles and electrification as key focus areas, we are glad to see the progress our two companies have made.”
– Extend support for Mahindra in global emerging markets, including Ford’s manufacturing and distribution network
– Collaborate to address future mobility needs