Ford Motor and Mahindra call off proposed auto joint venture

Ford Motor and Mahindra call off proposed auto joint venture


Ford Motor and Mahindra call off proposed auto joint venture
Ford Chief Operating Officer Jim Farley
Reuters
Auto major, Ford Motor Co. said that Ford and Mahindra & Mahindra have ended their discussions for a joint venture.
In an official statement issued by the company on Thursday, by Ford and Mahindra & Mahindra (M&M), the two automakers have mutually and amicably determined that they will not complete a previously announced automotive joint venture between their respective companies.
Ford Motors said the company is reversing its plans to cede most of its Indian operations to Mahindra & Mahindra Ltd., deciding to pull out of a proposed joint venture and continue its standalone business in the country.

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