Ford forms Joint Venture with Mahindra for India business

📆 2/10/2019 4:45 AM
📰 TimesLIVE

⏱ Reading Time:
26 sec. here
2 min. at publisher
📊 Quality Score:
News: 14%
Publisher: 59%

Malaysia News News

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.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Silicon Valley Investors Call Summit to Disrupt IPO BusinessPowerful figures are gathering 2,500 miles from Wall Street to redesign one of its oldest and most lucrative businesses -- but few from the industry will have a seat at the table.
Source: dailymaverick - 🏆 3. / 84 Read more »