Mahindra, Ford agree to co-develop SUVs, EVs

Mahindra Group and Ford Motor Company on Thursday entered into an agreement, which will see both jointly develop new sports utility vehicles (SUVs), and a small electric vehicle (EV), as part of several initiatives between them.

The two companies signed five new MoUs that further strengthen their strategic alliance and accelerate the development of key products for consumers in India and emerging markets. The MoUs, which are non-binding, mark the progress made by the two companies since announcing their alliance in September 2017.

Under the initiatives, Mahindra and Ford will leverage their strengths in the utility vehicle space to co-develop a midsize sports utility vehicle (C-SUV). Built on the Mahindra platform, the new SUV will drive engineering and commercial efficiencies and will be sold independently by both companies as separate brands. The two companies also agreed to evaluate co-development of a compact SUV and 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.

Mahindra and Mahindra Managing Director Pawan Goenka said, "Both teams are working together on joint development areas, in keeping with industry requirements and leveraging mutual strengths."

Ford Executive Vice President and President (Global Markets) Jim Farley said. "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."

Aiming to generate synergies and improve efficiencies with the new initiatives, the strategic alliance between the two companies continues to focus on leveraging the benefits of Ford's global reach and expertise, and Mahindra's scale in India.