Mumbai : Mahindra Group has forged a strategic alliance with Ford Motor Company in India to co-develop a midsize sports utility vehicle (SUV).
Under the new agreement, Mahindra and Ford will work together to introduce a benchmark product for India and emerging markets. The new agreement reinforces the steady progress made since the announcement of the strategic alliance between the two companies in September 2017, followed by an announcement on powertrain sharing and connected car solutions in October 2018. The new midsize sports utility vehicle (C-SUV) will have a common Mahindra product platform and powertrain, thus driving engineering and commercial efficiencies.
“I am happy with the significant progress we have made and synergies we have created since the announcement of our strategic alliance with Ford in 2017. Today’s announcement is another significant step in the collaboration between our two companies. Having identified several areas for joint development, both companies will continue to work together to develop products using common product platforms. This will reduce product development costs and gain economies of scale for both companies” Dr Pawan Goenka, Managing Director, M&M Ltd. said.
The strategic alliance between the two companies is focused on leveraging the benefits of both companies — Ford’s global reach and expertise and Mahindra’s scale and successful operating model in India. Teams from both companies continue to collaborate on all areas of mutual interest including electrification, distribution and product development.