According to Economic Times report, Mahindra & Mahindra has entered into an alliance with US-based FORD MOTOR Company with an agreement of 3 years. With the collaboration both the organization will boost up their company‘s sphere of product, technologies, and distribution including future mobility program, connected vehicle projects, electrification of cars amongst other areas.

With the tenure of joint venture been signed for three years, both the company has mutually decided that any further strategic cooperation of the firms will be decided by the end of that period.

n a statement to Bombay Stock Exchange, Mahindra & Mahindra stated that the tie-up could facilitate Mahindra’s expansion into other global emerging markets. And the potential of talks is wide-ranging right from for shared investment, economies of scale, technology sharing and higher efficiency in conventional areas like product development, sourcing and distribution as also in new emerging growth areas of mobility, electrification, and the internet of vehicles or connected cars.

Dr. Pawan Goenka, Managing Director, Mahindra & mahindra.

Speaking on the alliance, Pawan Goenka, managing director, Mahindra and Mahindra BSE Ltd said 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.

Ford Executive Vice-President and President of Global Markets, Jim Farley said the company is committed to India and the alliance could help it deliver the best vehicles and services to customers while profitably growing in the world’s fifth largest vehicle market.

“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,” he added.

With an aim of providing electrification in the market at an affordable cost in coming time both the company’s has signed a Memorandum of Understanding.

“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,” added Farley.