Ford and Mahindra are set to form a new joint venture in India with the aim of developing models for emerging countries.
The joint venture’s value is estimated to be $275 million, with Mahindra owning the majority of 51%.
Ford’s operations in India will be shifted under this new venture. The operations will be handled by Mahindra, but the board of the venture will consist of people from both companies.
News of this venture dates back to earlier in the year when it was announced that the two brands are working together on a new SUV meant to slot in between the Everest and EcoSport. It will use a platform and engine from Mahindra’s line-up.
This SUV will eventually be joined by two other SUVs, all three wearing Ford badges.
This joint venture isn’t all about SUVs, however. Another main aim is to introduce electric mobility to emerging markets, so we might even see some affordable electric vehicles grow from this deal.