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The carmakers signed an MoU for a strategic alliance for up to three years.
Mahindra and Ford will explore the possibility of a collaboration, which will see the companies working together on connected vehicle technology, electrification, and product development.
The two will collaborate for up to three years initially – areas of focus include improving Ford’s reach within India, enhancing Mahindra’s international reach and the two companies will collaborate on improving sourcing and commercial efficiencies.
“The changes facing the automotive industry globally are triggered by the accelerated rise of new technologies, sustainability policies and new models of urban shared mobility. Given these changes, we see the need to anticipate new market trends, explore alternatives and look for ways to collaborate even as we compete and build powerful synergies that will allow rapid exploitation of the exciting new opportunities," stated Pawan Goenka, managing director, Mahindra and Mahindra.
Many auto majors have explored potential partnerships but few have managed to see them through. VW and Suzuki ended their global partnership in a bitter split, and the German carmaker recently called off a planned partnership with Tata Motors as well.
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Published On : 25 January 2024
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