Ford forms JV with Mahindra for India business

MUMBAI: Ford Motor Co and Mahindra & Mahindra will form a joint venture company in India valued at US$275 million that will develop, market and distribute Ford branded vehicles in the country, the two companies said on Tuesday.

The two companies have for months been negotiating the deal, which will see Ford hold a 49per cent stake in the new entity, while Indian rival Mahindra will own 51per cent, Reuters reported in April.By shifting to a joint venture, Ford is changing its India strategy where it has long run an independent operation. India's autos market is dominated by Asian automakers like Suzuki Motor Corp and Hyundai Motor Co .

Philippines Philippines Latest News, Philippines Philippines Headlines

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

SIIC eyes waste-to-energy business in ShanghaiMAINBOARD-LISTED SIIC Environment Holdings on Monday said it has formed a joint venture (JV) company with Baowu Environment with 1.1 billion yuan (S$198.9 million) in registered capital. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Fiscal crises biggest risk to global business, WEF saysThe possibility of a fiscal crisis is the biggest risk to doing business globally, according to a survey of World Economic Forum business leaders ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »