Since the Government of India’s plans to move to an all-electric fleet by 2030, Michigan-based Ford Motor Company will collaborate with Mumbai, India-based Mahindra & Mahindra to explore joint development of products, especially electric and connected vehicles. The partnership, for an initial period of three years, will expand Ford’s reach in the fast-growing Indian auto market and improve Mahindra’s access to global markets.
“The partnership with M&M will allow us to work together to take advantage of the changes coming in the industry. The enormous growth potential in the utility vehicle market and the growing importance of mobility and affordable battery electric vehicles are all aligned with our strategic priorities,” said Jim Farley, executive vice-president and president of global markets, Ford.
The Business Standard reports that Mahindra has been losing market share and has not been able grow volumes for more than a year, and Ford has been stuck with a sub-three percent share for a few years, while emerging as the biggest exporter of passenger vehicles from India. Ford has spare capacity which can be used optimally by its new Indian partner.
