Ford forms Joint Venture with Mahindra for India business

📆 01/10/2019 17:45:00
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Ford Motor Co and Mahindra & Mahindra will form a joint venture company in India valued at $275 million (R4,210,745,000) that will develop, market and distribute Ford branded vehicles in the country, the two companies said on Tuesday.

Ford and Mahinda will form a joint venture in India that will develop, market and distribute Ford-branded vehicles there.Ford Motor Co and Mahindra & Mahindra will form a joint-venture company in India valued at $275m

that will develop, market and distribute Ford-branded vehicles in the country, the two companies said on Tuesday. The companies have for months been negotiating the deal which will see Ford hold a 49% stake in the new entity, while Indian rival Mahindra will own 51%, Reuters reported in April. By shifting to a joint venture, Ford is changing its strategy in a country where it has long run an independent operation. India's car market is dominated by Asian firms such as Suzuki and Hyundai.

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