Ford-Mahindra projects put on hold

Ford might also decide to exit the partnership completely.

According to a media report, Ford has put on hold all projects it was working on with Mahindra. The carmaker is said to be finalising its future strategy for India after the two companies cancelled their plans for a joint venture at the end of last year.

The report states that Ford might realign its strategy to work out a new deal with Mahindra. Ford might also decide to exit the partnership completely. A decision on the same could be made in about a month's time.

As part of the proposed joint venture, Ford and Mahindra were to develop new SUVs for emerging markets. The deal included sharing of powertrains, technology and suppliers in order to reduce costs, while Mahindra would have got an opportunity to enter new global markets. The joint venture was called off due to changes in global economic and business conditions following the outbreak of the Covid-19 pandemic.

Source: ET Auto