After more than two decades of
Mahindra & Mahindra joining hands with Ford to form a joint venture and
subsequently ending the JV in 2005, both the automobile companies have come
together again to explore a strategic cooperation to drive profitable growth in
India and other emerging markets.
It was in October 1995 that Mahindra
Ford India Limited (MFIL), a 50-50 joint venture between Mahindra &
Mahindra Limited and Ford Motor Company was formed. In 2005, the relationship
Now, the two erstwhile
partners have agreed to explore a strategic alliance, designed to leverage the
benefits of Ford’s global reach and expertise and Mahindra’s scale in India and
successful operating model.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.
The areas of potential
* Mobility programs
* Connected vehicle projects
* Product development
* Sourcing and commercial efficiencies
* Distribution within India; improving Ford’s reach within India
*Global emerging markets; improving Mahindra’s reach outside of India
Teams from both companies will
collaborate and work together for a period of up to three years. Any further
strategic cooperation between the two companies will be decided at the end of
“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,” said Jim Farley, Ford executive vice president and president of Global
“Our two companies have a long
history of cooperation and mutual respect. The memorandum of understanding we
have signed today with Mahindra will allow us to work together to take
advantage of the changes coming in the auto industry. 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,” he added.
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. 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.
Today’s announcement builds on the foundation laid through our past partnership
with Ford and will open opportunities for both of us.”
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