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Collaboration strengthens Ford’s commitment to India, while
facilitating Mahindra’s expansion into other emerging global markets
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Mobility, electrification and product development are key areas of
potential cooperation
Company Website:
http://corporate.ford.com/
CHENNAI, India -- (Business Wire)
Mahindra Group and Ford Motor Company today agreed to explore a
strategic alliance, designed to leverage the benefits of Ford’s global
reach and expertise and Mahindra’s scale in India and successful
operating model.
The agreement between the two companies will allow each to leverage
their mutual strengths during a period of unprecedented transformation
in the global automotive industry. The areas of potential cooperation
include:
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Mobility programs
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Connected vehicle projects
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Electrification
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Product development
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Sourcing and commercial efficiencies
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Distribution within India; improving Ford’s reach within India
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Global emerging markets; improving Mahindra’s reach outside of India
Teams from both companies will collaborate and work together for a
period of up to three years. Any further strategic cooperation between
the two companies will be decided at the end of that period.
“Ford is committed to India and this alliance can help us deliver the
best vehicles and services to customers while profitably growing in the
world’s fifth largest vehicle market,” said Jim Farley, Ford executive
vice president and president of Global Markets.
“Our two companies have a long history of cooperation and mutual
respect. The memorandum of understanding we have signed today with
Mahindra will allow us to work together to take advantage of the changes
coming in the auto industry. The enormous growth potential in the
utility market and the growing importance of mobility and affordable
battery electric vehicles are all aligned with our strategic priorities.”
Dr. Pawan Goenka, managing director, Mahindra and Mahindra Ltd
elaborated: “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. Today’s announcement builds on the foundation laid
through our past partnership with Ford and will open opportunities for
both of us.”
Mahindra has been leading the utility vehicles segment in India for the
past seven decades. The spirit of ingenuity has driven Mahindra to be
amongst the few global companies pioneering the development of clean and
affordable technology, and is the only player with a portfolio of
electric vehicles commercially available in India. Expanding its global
presence, Mahindra owns majority stake in Ssangyong Motor Company in
Korea, has forayed into the shared mobility space with investments in
ride sharing platforms in the USA, and is developing products like the
GenZe - the world’s first electric connected scooter.
Ford was among the first global automakers to enter India in 1995. Now
one of the largest exporters of cars from the country, Ford manufactures
and exports vehicles and engines from its manufacturing facilities in
Chennai, Tamil Nadu and Sanand, Gujarat. India is also the
second-largest Ford employee base globally, with more than 14,000 people
working across the Ford India or Global Business Services operations in
New Delhi, Chennai, and Coimbatore.
About Mahindra
The Mahindra Group is a USD 19 billion federation of companies that
enables people to rise through innovative mobility solutions, driving
rural prosperity, enhancing urban living, nurturing new businesses and
fostering communities. It has a leadership position in utility vehicles,
information technology, financial services and vacation ownership in
India and is the world’s largest tractor company, by volume. It also
enjoys a strong presence in agribusiness, components, commercial
vehicles, consulting services, energy, industrial equipment, logistics,
real estate, steel, aerospace, defence and two wheelers. Headquartered
in India, Mahindra employs over 200,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com
/ Twitter and Facebook: @MahindraRise
About Ford Motor Company
Ford Motor Company is a global company based in Dearborn, Michigan.
The company designs, manufactures, markets and services a full line of
Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury
vehicles, provides financial services through Ford Motor Credit Company
and is pursuing leadership positions in electrification, autonomous
vehicles and mobility solutions. Ford employs approximately 203,000
people worldwide. For more information regarding Ford, its products and
Ford Motor Credit Company, please visit www.corporate.ford.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170918005507/en/
Contacts:
Mahindra
Mohan Nair, + 91 22 28468510
nair.mohan@Mahindra.com
or
Ford
India
Kapil Sharma, +91 98730 78122
Ksharma6@Ford.com
or
Ford
Global News
Mike Moran, + 1 313-322-1602
mmoran@ford.com
Source: Ford Motor Company
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