Ford and Mahindra form strategic collaboration
Ford Motor Company and Mahindra Group agreed to explore a strategic alliance, focussing on mobility, connected vehicles and electrification to expand Ford’s reach in India and global emerging markets for Mahindra.
The collaboration will see teams from both companies work together over the next three years, with further cooperation being decided thereafter. The companies say the memorandum of understanding will help them grow and provide affordable battery electric vehicles.
Jim Farley, Ford executive vice president and president of Global Markets, 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.”
“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.”
Dr. Pawan Goenka, managing director, Mahindra and Mahindra Ltd elaborated: “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.”
Mahindra has been leading the utility vehicles segment in India for the past seven decades, the company said, and is the only company with a portfolio of electric vehicles already commercially available in India. The company is currently developing the GenZe, which they say is to be the world’s first electric connected scooter.