Mahindra & Mahindra, Ford to ride together?

Auto major Mahindra & Mahindra and Ford may ride together, claims an ET Now report. The channel said the two auto giants were working on an alliance, led by Mahindra, which would see Ford de-risk from its India operations. ET Now quoting sources said there will be potential joint venture that will be formed. The proportion of shareholding will see Ford's holding at 49% and M&M's stake 51%, the channel claimed. The two firms are likely to share vehicle architecture, technology and will try to leverage each other’s distribution network. The JV, the channel added, may also look to sell Ford brand in India and export both brands. M&M has been eyeing a differentiated foothold in domestic passenger vehicle and UV segments. In a reply, Ford India said it didn't want to comment on speculation and that it was confident of building a sustainable and profitable business in India. "FY2017-18 was financially one of the best years in India," the firm told ET Now.

from The Economic Times https://ift.tt/2OSPwjL