Mahindra Group and Ford Motor Company will jointly develop a small electric vehicle as part of several initiatives. The two companies 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.
Under the initiatives, Mahindra and Ford will evaluate co-development of an 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.
“Today’s announcement is the next step in the collaboration between Mahindra and Ford,” said Dr. Pawan Goenka, Managing Director, Mahindra and Mahindra Ltd. “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.”
“Ford is committed to offering the best vehicles, technologies, and services that fit the lifestyles and preferences of Indian consumers,” said Jim Farley, Ford Executive Vice President and President of Global Markets. “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 for a period of up to three years, to develop further avenues of strategic cooperation, such as extending support for Mahindra in global emerging markets, including Ford’s manufacturing and distribution network; and working together to address future mobility needs.