Last year in September, Mahindra and Ford formed a strategic alliance for developing new products and other mutual benefits. The companies have now decided to take it forward and have signed MoUs in Chennai yesterday, to jointly develop new SUVs, and a small electric vehicle.
The two companies signed 5 new non-binding MoUs to develop products not just for India but also for emerging markets.
Under the initiatives, Mahindra and Ford will leverage their strengths in the utility vehicle space to co-develop a midsize sports utility vehicle (C-SUV). Built on the Mahindra platform, the new SUV will be sold by both companies under their own brands.
Mahindra and Ford also agreed to evaluate co-development of a compact SUV and an electric vehicle, along with sharing of powertrains, including the supply of Mahindra powertrains to extend Ford’s product range.
The companies also announced plans to co-develop a suite of connected car solutions.
“Today’s announcement is the next step in the collaboration between Mahindra and Ford,” said Dr Pawan Goenka, MD, Mahindra and Mahindra Ltd. “Both teams are working together on joint development areas in keeping with industry requirements and leveraging mutual strengths. We are excited about the synergies unveiled through this collaboration and the potential opportunities it will bring.”
“Ford is committed to offering the best vehicles, technologies and services that fit the lifestyles and preferences of Indian consumers,” said Jim Farley, Ford EVP and President of Global Markets. “Listening to our customers and incorporating their future needs is the core premise of this collaboration. With utility vehicles and electrification as key focus areas, we are glad to see the progress our two companies have made.”
Teams from both companies will continue to collaborate and work together, for a period of up to 3 years. This includes helping each other in expanding their manufacturing and distribution network.
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