Mahindra and Ford to Explore Strategic Cooperation to Drive Profitable Growth in India and Other Emerging Markets
- Collaboration strengthens Ford’s commitment to India, while facilitating Mahindra’s expansion into
other emerging global markets
- Mobility, electrification and product development are key areas of potential cooperation
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:
- Mobility programs
- Connected vehicle projects
- Electrification
- Product development
- Sourcing and commercial efficiencies
- Distribution within India; improving Ford’s reach within India
- 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 .
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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170918005507/en/