Mahindra And Ford To Jointly Develop SUVs, Electric Car For India
Mahindra & Mahindra has joined hands with Ford in order to share platforms and develop new vehicles for India. Both the automakers have signed an MOU to develop a new midsized and compact SUV and a new electric vehicle for the Indian market making the news official. Both Mahindra and Ford will jointly develop the platform for the SUVs that will wear a Ford body and will be badged Ford. Both the Indian and American auto giants are looking forward to make out the most of this joint venture in the automobile market.
According to the MOU, Mahindra and Ford co-operate with each other for a period of three years. Other than this, Ford will get access to economies of scale and a lower cost structure from Mahindra's new platform while Mahindra will get access to Ford’s engineering prowess. Also, Mahindra will get support in - 'global emerging markets, including Ford's manufacturing and distribution network'. To make things work, while Ford's headquarters are based out of Dearborn, Michigan, that is right outside the Detroit area and Mahindra too has a presence in the Detroit area with two facilities that make the Roxor off-road vehicle and the Genzee electric mobility solutions.
Speaking on the occasion, Dr Pawan Goenka, Managing Director, Mahindra and Mahindra Ltd said, "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."
Initially, the next Ford SUV that will make its way to the Indian market will share its platform with the next generation Mahindra XUV 500. However, the XUV 500 we’re talking about is not the facelift that has been spied recently. The upcoming Ford SUV will be placed between the Ford Ecosport and the Ford Endeavour. Although, earlier Ford was planning to launch the Kuga SUV in the Indian market to fill the gap but now they have dropped the plan. The ‘to be developed’ SUV by Ford will be a compact SUV that is likely to take against the likes of the Hyundai Creta in the country.;
Also, sharing the views on the joint venture, Jim Farley, Ford executive vice president and president of Global Markets said, "Ford is committed to offering the best vehicles, technologies and services that fit the lifestyles and preferences of Indian consumers. 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."
However, According to a statement released by the companies, the MOUs which are non-binding mark the progress made by the two companies since announcing their alliance in September 2017. Also, both the companies will work with an aim to generate synergies and improve efficiencies with the new initiatives, their strategic alliance continues to focus on leveraging the benefits of Ford's global reach and expertise and Mahindra's scale in India and its successful operating model. Stay tuned to V3cars.com for further updates.;
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