March 23, 2018 2:17:07 am
The Mahindra group and Ford Motor Company of the US will jointly develop new SUVs and a small electric vehicle as part of several initiatives being planned by the two companies.
The two companies have signed five new memoranda of understanding (MoU) that further strengthen their strategic alliance and accelerate the development of key products for consumers in India and emerging markets. The MoUs, which are non-binding, mark the progress made by the two companies since announcing their alliance in September 2017.
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 drive engineering and commercial efficiencies and will be sold independently by both companies as separate brands,” they said in a statement.
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