BusinessCarsNews

Mahindra and Ford Sign MoUs to Co-Develop Midsize and Compact SUV, Electric Vehicle and Connected Car Solutions

Agree to evaluate co-development of compact SUV and electric vehicle, along with sharing powertrain portfolios

Mahindra Group and Ford Motor Company will jointly develop
new SUVs, and a small electric vehicle as part of several initiatives announced today between
the two companies.
The two companies signed five new memoranda of understanding (MoU) that further strengthen
their strategic alliance and accelerate the development of key products for consumers in India
and emerging markets. The MoUs, which are non-binding, mark the progress made by the two
companies since announcing their alliance in September 2017.
Under the initiatives, Mahindra and Ford will leverage their strengths in the utility vehicle space to
co-develop a midsize sports utility vehicle (C-SUV). Built on the Mahindra platform, the new SUV
will drive engineering and commercial efficiencies and will be sold independently by both
companies as separate brands.
Mahindra and Ford also agreed to evaluate co-development of a compact SUV and electric
vehicle, along with sharing powertrain portfolios, including the supply of Mahindra powertrains to
extend Ford’s product range.
Building on the collaboration, Mahindra and Ford also announced plans to co-develop a suite of
connected car solutions for consumers. The collaboration is in line with Ford’s commitment to
helping people around the world move more safely, confidently and freely.
“Today’s announcement is the next step in the collaboration between Mahindra and Ford,” said
Dr Pawan Goenka, Managing Director, Mahindra and Mahindra Ltd. “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.”
“Ford is committed to offering the best vehicles, technologies and services that fit the lifestyles
and preferences of Indian consumers,” said Jim Farley, Ford executive vice president and
president of Global Markets. “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.”

2
Aiming to generate synergies and improve efficiencies with the new initiatives, the strategic
alliance between the two companies continues to focus on leveraging the benefits of Ford’s global
reach and expertise and Mahindra’s scale in India and its successful operating model.
Teams from both companies will continue to collaborate and work together, for a period of up to
three years, to develop further avenues of strategic cooperation such as:
– Extend support for Mahindra in global emerging markets, including Ford’s manufacturing and
distribution network
– Collaborate to address future mobility needs

Mahindra has been leading the utility vehicles segment in India for the past seven decades. The
spirit of ingenuity has driven Mahindra to be among the few global companies pioneering the
development of clean and affordable technology and is the only player with a portfolio of electric
vehicles commercially available in India. Expanding its global presence, Mahindra owns a majority
stake in Ssangyong Motor Company in Korea, has forayed into the shared mobility space with
investments in ridesharing platforms in the U.S., and is developing products like the GenZe – the
world’s first electric connected scooter.
Ford was among the first global automakers to enter India in 1995. Now one of the largest
exporters of cars from the country, Ford manufactures and exports 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

or Global Business Services operations in New Delhi, Chennai, and Coimbatore.

Source : Mahindra

Tags
Show More

Related Articles

Leave a Reply

Close
%d bloggers like this: