Jim Farley, President of Ford New Businesses, Technology and Strategy, Pawan Goenka, Managing Director of Mahindra and Mahindra Limited, and Anand Mahindra, Chairman of Mahindra Group, after attending a news conference in Mumbai, India, October 1, 2019. — Reuters pic
Under the terms of the deal, which is likely to be finalised by mid-2020, Ford will transfer its local automotive assets, including both its car manufacturing plants in the country, and employees to the new entity, the companies said in a statement. “Strong alliances like this play a crucial role in assuring we continue to achieve our vision while at the same time staying competitive and delivering value to our global stakeholders,” Jim Hackett, Ford president and CEO said in the statement.
“I think it’s a disappointment when I see Ford sitting at the passenger seat, while Mahindra drives, if that will be the arrangement,” said Gaurav Vangaal, senior analyst, automotive forecasting at consultancy IHS Markit.
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