DEARBORN, Mich. (Diya TV) — Designed at leveraging the benefits of Ford and Mahindra’s strengths, Mahindra Group and Ford Motor Company announced a strategic alliance.
A Sept. 18 announcement by Ford says the “agreement between the two companies will allow each to leverage their mutual strengths during a period of unprecedented transformation in the global automotive industry.”
Areas of cooperation include:mobility programs; connected vehicle projects; electrification; product development; sourcing and commercial efficiencies; distribution within India; improving Ford’s reach within India; and improving Mahindra’s reach beyond India.
“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,” stated Jim Farley, Ford executive vice president and president of Global Markets.
Ford and Mahindra will work together for a period of up to three years. Following that the period may be extended.
“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 …,” said Dr. Pawan Goenka, managing director, Mahindra and Mahindra.
Mahindra is one of the leading utility vehicle manufacturers in India for over 70 years.
Mahindra owns a majority stake in Ssangyong Motor Company in Korea and is developing products like the GenZe – the world’s first electric connected scooter.
Ford is one of the largest exporters of cars from the U.S., manufacturing and exporting vehicles and engines from its manufacturing facilities in Chennai, Tamil Nadu and Sanand, Gujarat. India is also the second-largest Ford employee base globally, with more than 14,000 people working across the Ford India and Global Business Services operations in New Delhi, Chennai, and Coimbatore.
The Mahindra Group is a $19 billion federation of companies focused on “innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities.”
It is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defense and motorcycles. Mahindra employs over 200,000 people across 100 countries.
Ford Motor Company is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles. Ford employs approximately 203,000 people worldwide.
The two companies had a brief 1995 partnership for manufacturing the Ford Escort. However, after three years, the partnership ceased.