Ford: agreement with India's Mahindra for a JV
(CercleFinance.com) - Ford announces a definitive agreement with Mahindra to create a joint venture that will develop and market Ford-branded vehicles in India, and Ford and Mahindra & Mahindra brands in other high-growth emerging markets.
The Indian group will hold a 51% controlling interest in the new company, with Ford owning the remaining 49%. Ford will transfer Indian operations to the joint venture, including the Chennai and Sanand assembly sites.
This joint venture is the next step in a strategic alliance forged in September 2017. It is expected to be operational by the middle of next year, subject to regulatory approvals.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Indian group will hold a 51% controlling interest in the new company, with Ford owning the remaining 49%. Ford will transfer Indian operations to the joint venture, including the Chennai and Sanand assembly sites.
This joint venture is the next step in a strategic alliance forged in September 2017. It is expected to be operational by the middle of next year, subject to regulatory approvals.
Copyright (c) 2019 CercleFinance.com. All rights reserved.