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Archives

Mahindra signs 5 MoUs with Ford

10/04/2018 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

Signing of MOU

Mahindra Group and Ford Motor Company will jointly develop new SUVs, a small electric vehicle and connected car solutions as part of several initiatives announced between the two companies. The two companies signed five new Memoranda of Understanding (MoUs) in this regard.
 
The MoUs will further strengthen the companies 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.
 
Mahindra and Ford also agreed to evaluate co-development of a compact SUV and electric vehicle, along with sharing powertrain portfolios, including the supply of Mahindra powertrains to extend Ford’s product range.
 
Building on the collaboration, Mahindra and Ford also announced plans to co-develop a suite of connected car solutions for consumers. The collaboration is in line with Ford’s commitment to helping people around the world move more safely, confidently and freely. 
 
Announcing the MoUs, Dr Pawan Goenka, MD, Mahindra & Mahindra, said, “Today’s announcement is the next step in the collaboration between Mahindra and Ford. 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.”
 
Mr Jim Farley, Executive V-P and President of Global Markets, Ford, said, “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 three years, to develop further avenues of strategic cooperation. This includes extending support for Mahindra products in global emerging markets and address future mobility needs.
 

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